This will be the Basis of Contribution to Social Security in 2018

These days companies are closing the execution of the accounts of this exercise and the budget design for 2018, in which, undoubtedly, the item of labor cost will be one of the most important. The forecasts in general terms are good , since there are a minority of companies that calculate that they will have to reduce their workforce in the short or medium term. The rest estimates that their labor costs, understood as not only wages, but also the payment of Social Security contributions and all kinds of monetary or in kind payments to their workers, will rise around 2% in 2018.

The Government has just signed with the social partners an agreement whereby the minimum interprofessional salary (SMI) will rise from January 1 by 4% to be set at 736 euros per month or 10,304 euros per year. In this line, the minimum contribution bases will also be revalued in the same amount and will go from 1,152.90 euros for engineers and graduates to 1,199 euros.

The new minimum base of the second contribution group, composed of technical engineers, experts and certified assistants goes from 956.10 to 994.3 euros and that of the administrative and workshop heads rises another 4% from 831.6 euros up to 864.8 . In the rest of the groups, the minimum base is set at 858.6 euros per month, compared to 825.6 euros this year.

Source: https://cincodias.elpais.com/cincodias/2017/12/27/midinero/1514397521_836878.html