Today is the deadline for companies to deposit the second Compensation for Time of Services (CTS) of the year to their workers on the payroll, otherwise they could be sanctioned.
According to information from the National Superintendency of Labor Inspection (Sunafil), the minimum fine for non-compliance by a small business is 1,980 soles. While the maximum penalty, applicable to large companies, amounts to 114,928 soles.
Who receives CTS?
This right applies to all workers formal private sector workers that have a minimum working day of 4 hours a day. Workers of the Remype regime also have access to 50% of the benefit.
The company deposits this benefit in a special savings account in the financial institution chosen by each worker. They can be banks, finance companies, municipal banks, rural banks and cooperatives, whose interest rates vary between 0.25% and 6.9%.
The amount that the worker receives is equivalent to more than one salary per year, since the sixth part of the last bonus is also considered received, for which the amount received is 1.17 annual salaries.
“For example, if a worker has a fixed salary of S / 3,000 per month, his annual CTS will be S / 3,500, so he will receive a semiannual payment of S / 1,750 in May and S / 1,750 in November,” explained the teacher. from Pacífico Business School, Jorge Carrillo Acosta.
Can the CTS be withdrawn?
Workers can have 100% of their CTS until December 31 of this year. This due to the Law 31171, in force since May of this year.
After that date, the restriction of withdrawing a maximum of four gross salaries, or in the event of resignation, dismissal or retirement, will be applied.
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