Companies have until this Wednesday to deposit the CTS

Employers have until this Wednesday, November 15 to make the second deposit of the year of compensation for time of service (CTS) of their workers on the payroll. It is estimated that around 2.8 million Peruvians will receive this employment benefit.

Who should receive the CTS?

The CTS is a social welfare benefit that acts as “unemployment insurance” regarding the contingencies caused by the cessation of work.

Labor lawyer Ricardo Herrera points out that This benefit corresponds to formal employees who work full time and have at least one month of service in the company. However, it clarifies that it is necessary for the worker to have a current relationship with the employer as of at least October 30.

Who does not receive this benefit?

According to Fabiola Ruiz, associate at Miguel Mur & Abogados, the group that is exempt from this benefit includes the workers of the microenterprise (when it is duly registered in the REMYPE) and part-time workers.

Furthermore, it points out that in the case of those who receive Comprehensive Annual Remuneration (RIA), the CTS is within this concept, and in the case of workers in the Agrarian Regimethey can decide to receive this benefit in their remuneration.

How to calculate the CTS for November?

Lawyer Jimmy Huatuco, project manager at Buk Perú, indicates that to calculate the CTS for November, the remuneration, main fixed income and variables obtained in each period are considered.

In the operation, the monthly salary must be taken into account and added 1/6 corresponding to the bonus. The amount obtained must be divided by 360 and multiplied by the days worked in the semester, in this case 6 months which is equivalent to 180 effective days. The formula is as follows: (remuneration + 1/6 of the bonus) / 360 days per number of days worked.

What is the amount of this benefit?

Professor and finance expert at Pacífico Business School Jorge Carrillo Acosta comments that it is believed that the CTS is equivalent to a salary year. However, the amount is a little higher, since as explained in the previous point, in addition to the salary, one sixth of the last bonus received must be considered, so approximately 1.17 salaries are received per year. by CTS.

According to Carrillo, for example, if a worker has a fixed remuneration of S/3,000 per month, his annual CTS will be S/3,500, and he will receive a semiannual payment of S/1,750 in May and S/1,750 in November.

Is it still possible to withdraw from the CTS?

Workers You can have 100% of your CTS until December 31 of this year. After the date has passed, they will not be able to access this money until their employment relationship ends.

However, so far four bills have been presented in Congress that seek to extend the deadline beyond next December 31, even until 2026. One of the initiatives, which proposes the extension of availability until December 31 December 2024, it already has an opinion approved by the Labor Commission.

How much is the fine if they don’t deposit?

According to Ricardo Herrera, if companies do not deposit this labor benefit within the established period, they would be committing a serious offense.

In the case of the microenterprises This offense can be punished with a fine that starts from S/544.5 and goes up to S/2,227.5. While in small businesses, The sanction ranges between S/2,227.5 and S/22,275. For its part, in medium and large companies it ranges from S/7,771.5 and can reach up to S/129,294.

Given these irregularities, workers can file a claim with Sunafil.

How to manage the CTS if I withdraw it?

If you wait for the CTS to cancel a debt, the recommendation from Cristian Arens, founder of InvertirJoven, is to identify which are the pending credits and payments to be remedied, with the highest interest rates.

For his part, Javier Gamboa, from Rímac Seguros, comments that when looking for insurance options investment In the short term, an insurer can offer traditional term deposits, with the financial security and guarantee of a competitive interest rate at the expiration of the contract. They also recommend saving in a bank.