CTS 2023: when is this money deposited and how to calculate what is due to me?

He Next November 15th the deadline expires for the deposit of Compensation for Time of Service (CTS), social benefit corresponding to the semiannual period May-October 2023.

“This benefit is granted by micro, small, medium and large companies to their workers, with the purpose of constituting a fund that allows them to face future contingencies that may occur after the termination of the employment relationship and/or cover their needs and those of his family while he reenters the labor market,” said the manager of the CCL Legal Center, Álvaro Gálvez.

How is the amount that corresponds to me calculated?

The CCL maintained that the amount of the CTS to deposit varies depending on the type of company and the time worked in the semiannual period. In the case of the medium and large companyIf the worker worked the entire semester, the CTS to be deposited will be 50% of the October 2023 salary plus one sixth of the bonus received in July 2023.

For example, if the worker’s salary is S/1,500, Your CTS will be: S/750 plus S/250 (1/6 of the bonus received), then the total CTS to be deposited would be S/1,000.

If the worker has not worked the entire semester, his CTS will be constituted by one sixth of his remuneration, for each month worked, plus one sixth of the bonus he would have received in said period.

For the small companywhose annual income was not greater than 1,700 UIT, there are three cases:

• If the small company is not registered in the Registry of Micro and Small Businesses (Remype), all its old and new workers will be entitled to the CTS in accordance with the general rule, which applies to medium and large companies.
• If the small business is registered with Remype, workers hired before its registration will be entitled to the CTS.
• If the worker has been hired after the company registered with Remype, his CTS will be 50% of what is obtained in the general regime.

For the microenterprise, whose annual income does not exceed 150 UIT, there are also three cases:

• If the microenterprise is not registered with Remype, all its workers will be entitled to the CTS under the general rule.
• If the microenterprise was registered with Remype, Workers hired before their registration are entitled to CTS under the general rule.
• If the workers were hired after the microbusiness registered with Remype, these workers are not entitled to CTS.

In what cases can my CTS money be withheld or seized?

CTS deposits can be seized when the worker has food debts, up to 50%. Keep in mind that the CTS is obligatorily deposited in the bank chosen by the worker, even when there is a judicial seizure for alimony debts.

In this case, the company must inform the judge that the CTS has been deposited in accordance with the law and the seizure must be requested from the depositary bank, unless it is the CTS that is recorded in the settlement of the worker who ceases and whose deadline for Your deposit has not expired yet.

Until what date can I withdraw my CTS?

Through Law 31480 (05/25/2022), workers were authorized, for one time only and until December 31, 2023, to freely dispose of 100% of the deposits for compensation for time of service performed in financial institutions and that have accumulated on the date of disposal.