Undoubtedly, what the vast majority of workers expect is the payment of the CTSthat is, the Compensation for Time of Service. Each worker benefits, since the employer makes a deposit that is divided into two installments. Typically, this amount is transferred in May and November, together they add up to approximately one salary.
Therefore, here we provide you with all the details about the delivery of this economic benefit with the intention that you be attentive to the deposit date and can withdraw it in the way you like. In addition to knowing how much corresponds to you according to the salary you receive.
When do they pay the CTS in 2023?
There is no extraordinary variation of the deposit date. Therefore, every company will have to disburse this money to its employees until May 15. Also, for good news for all workers, it will be possible to withdraw the money. The main reason is that, in May of last year, the Law No. 31480 that makes it possible for each worker on the payroll to benefit from this money.
On the other hand, those who receive this payment must be people who work at least four hours a day and who accumulate at least 30 days of work.
How is the amount of my CTS calculated?
First of all, you will have to divide the amount of your gratification in six parts. This result is added to your monthly salary without any discount. And, to that number, you multiply it by the working days of the entire semester, that is, 180 days, according to the Legislative Decree 650.
What happens if my company does not comply with this payment?
In case of a breach of the company with this payment for Compensation for Time of Service (CTS)the fine for this could range from 1.46 UIT to 24.27 ITUthat is, between S/7,227 and S/120,136, depending on the number of workers affected, according to the Chamber of Commerce of Lima (CCL). Lastly, all legal labor interests that are generated up to the effective date of payment will be applied.
Source: Larepublica
Alia is a professional author and journalist, working at 247 news agency. She writes on various topics from economy news to general interest pieces, providing readers with relevant and informative content. With years of experience, she brings a unique perspective and in-depth analysis to her work.
