The Labor and Social Security Commission approved this Tuesday, November 7, the replacement text, which accumulates bills 5009-22-CR, 5185-22-CR and 5311-22-CR, and proposes to extend the period of temporary availability of compensation for time of service (CTS) deposits provided for in Law 31480 until December 31, 2024.
In this way, workers will be able to withdraw up to 100% of their CTS not only until December 31, 2023, but until the end of next year. It is important to point out that the opinion was approved by a majority in the Commission, but now it must be debated in the Plenary Session of Congress.
For their part, the Ministry of Labor and Employment Promotion (MTPE) and the Superintendency of Banking and Insurance of Peru (SBS) have previously been against this initiative because they consider that the benefit is intangible and a project with these characteristics denatures it.
In contrast, the Confederation of Workers of Peru (CTP) has expressed its support since it could imply a momentary exit to face the economic crisis and the recession that affects citizens.
When is this money deposited and how do I calculate what is due to me?
Employers have until November 15 to deposit the Compensation for Time of Service (CTS), a social benefit corresponding to the May-October 2023 semiannual period.
According to the Lima Chamber of Commerce (CCL), the amount 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, his CTS to deposit will be 50% of the October 2023 salary plus one sixth of the bonus received in July 2023. For example, if the employee’s salary is S/1,500, his 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.
In the case of the small companiesIf they are not registered in the Registry of Micro and Small Businesses (Remype), all their employees will have the right to the CTS in accordance with the general rule that applies to medium and large companies.
Source: Larepublica
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