In this article you will learn in detailHow to calculate gross salary correctly in Chile? We will help you with your solutions in this regard.
How to calculate gross salary
The calculation of the gross salary is extremely simple. It is a very easy sum to do. You will understand it just by reading its definition, which we offer you below. Learn to perform interesting calculations What is a settlement?
Definition of gross salary
Gross salary is understood as the total money received by the worker without the corresponding legal deductions or other discounts contracted by the employee. It is obtained by adding the base salary and other income from your work activity, whether or not it is remuneration.
Example of a gross pay calculation
A worker receives his salary distributed as follows:
Base salary: $700.000
Payments constituting remuneration: $250.000
Assignments that are not remuneration: $140.000
Gross salary = $1090
As you can see, it's that simple to calculate your gross salary.
Now we are going to teach you how to calculate the net salary, this is a more detailed procedure. We will start by explaining what the liquid salary is.
liquid salary
It refers to the final amount received by the employee after the application of the law discounts. This salary is the difference between the gross salary and the respective deductions.
Calculation of liquid salary
We will explain below how this calculation is performed. Let us consider the following case.
A worker earns the following amounts:
- Base salary: $400.000
- Payments constituting remuneration: $190.000
- Assignments that are not remuneration: $140.000
- Gross salary = $730.000
- Discounts are made:
- Gross salary - discounts = $730.000 – $140.000 Gross salary = $590.000 (taxable salary)
- law discounts
- Health (7%). $41.300
- Pension fund management (11.5%) $67.850
- Disability and survival insurance (1.41%): $8.319
- Mandatory compensation contribution (4.11%): $24.249
- Accidents at work (0.95%): $5.605
- The sum of the benefit charges = $147.323
- Taxable salary- benefit load= $590.000-$147.323=$442.677
- Assignments that do not constitute remuneration must be added.
- Total non-remunerative assignments $442.677+$140.000=$582.677
Suppose the worker has a mortgage loan for $110.000
Then $582.677-$110.000 is subtracted in this way. This final result is the liquid salary.
Thus, in this simple way, the liquid salary is calculated.
We hope that you are clear about how to calculate the gross salary and the liquid salary.
Below we offer you an audiovisual material so that you can expand on what is reported in this article.