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How to calculate the CTS 2023?  Check HERE how much you will be deposited in May

How to calculate the CTS 2023? Check HERE how much you will be deposited in May

enter this calculator online from The Republic and find out how much is the amount that you should receive until May 15.

This May 15 is the deadline for the companies deposit the Compensation for Service Time (CTS) to their workers in order to support them financially in the event of an emergency, such as job loss. This extra money comes in a scenario between inflation and the strengthening of the Peruvian currency. For this reason, many would choose to withdraw this additional bonus, whose free availability is valid until December 31, 2023. How to calculate how much CTS I will receive in May of this year? We tell you here.

The Republic CTS calculator

If you want to make a quick calculation of the CTS, you can review the calculator of The Republic, a tool created solely to know the amount of this compensation. You can visit it at the following link: HERE

These are the steps to calculate your CTS:

  • Enter the CTS Calculator.
  • Enter the date you entered your work center.
  • Enter the amount of your gross salary and if you receive family bonus.
  • The web will show you the amount of CTS that you will receive in May.

How to calculate the CTS 2023?

However, to know which factors are included in the equation for calculating the CTSyou should consider your basic remunerationthe amount of household allowance (if applicable), the total of extra hours of the last semester divided between six and the last gratification perceived.

To calculate the amount, add your gross monthly salary with 1/6 of the bonus (divide your bonus by six). Divide that value by 360 and then multiply it by the days worked (for the entire semester it would be 180).

Example:

  • Basic salary: S/1,500
  • 1/6 bonus: S/250
  • (1,500 + 250 )/ 360 = S/4.86
  • 4.86 x 180 = $875
  • Your CTS in May will be S/875

Can you withdraw the CTS they deposit in May 2023?

In May 2022, Law 31480 was approved, which allowed workers to freely dispose of 100% of their accumulated money until December 31, 2023. This means that the benefit of the retirement of Compensation for Time of Service is in force and it ends this year, in such a way that the workforce also has the possibility of withdrawing up to the second deposit of the CTS that is made in November.

CTS 2023: who is not entitled to this extra money?

  • Workers who work less than four hours a day.
  • Those who receive 30% or more of the rates paid by the public.
  • The workers of the microenterprise hired after the registration of the company in the REMYPE.
  • Workers who receive full annual remuneration.
  • Workers of the agricultural labor regime who have chosen to collect their CTS together with their remuneration (Law 30110 and DS 005-2021-Minagri).

Source: Larepublica

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