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Profits 2024: what is the deposit deadline and who does it apply to?

Profits 2024: what is the deposit deadline and who does it apply to?

March is one of the most anticipated months for workers because companies begin to pay profits according to their annual results and profits. As is public knowledge, this labor benefit is provided once a year to employees in the private sector, according to article 29 of the Political Constitution of Peru.

This extra money will be of great importance for citizens, since it gives them the possibility of meeting their financial objectives and increasing their assets. Next, find out the deadline that companies have to pay profits and find out who will receive this extra money.

2024 utility payment schedule in Peru

The payment of profits must be made within a maximum period of 30 calendar days after the company presents its Annual Income Tax Return. According to Sunat’s schedule, the due dates in 2024 will begin on March 26 and will extend until April 11 of this year based on the last digit of the taxpayer’s RUC.

Following the above, Companies must pay profits from March 25 to mid-May. In this regard, the employer will provide a settlement sheet with the information showing how the result that was canceled was reached.

Who is responsible for paying utilities in Peru?

This mandatory compensation endorsed by the Political Constitution is received all workers who are on the payroll and whose companies where they work generate third-category income and have more than 20 employees, except microenterprises, self-managed, cooperatives, communal and civil societies. Likewise, former employees who have worked in the year that correspond to the profits must be considered.

In the case of worked days, not only those where the ordinary working day was completed will be considered, but also those with days of prenatal and postnatal rest (women). Regarding absences, they must be considered as attendance whenever they have to do with legal mandates such as union licenses, null dismissals, among others.

Profits 2024: how to calculate the payment?

According to the state portal Gob.pe, to calculate the payment of utilities, you must first obtain the amount of money that will be distributed among the workers. Then, two calculations are established:

  • A portion of the profits is calculated based on your days worked. The average value generated by a day of employee work to obtain that result is obtained. Let’s take an example. If the work day generates S/3 and you worked 180 days, multiply it and that fraction is equivalent to S/540.
  • The other part considers your income as a worker. The amount of money to be distributed is divided by the sum of the salaries of all employees, this result is multiplied by everything you have earned in the year. Example: if the division yields 0.02 cents and you won S/27,000, they are multiplied and the product is also equivalent to S/540.
  • Both amounts obtained are added and yield a profit to be distributed of S/1,080.

How much is the profit payment per sector?

The calculation of profits also depends on the activity carried out by the company. These vary as follows:

  • Fishing companies: 10%
  • Telecommunications companies: 10%
  • Industrial companies: 10%
  • Mining companies: 8%
  • Commerce and restaurants: 8%
  • Other activities: 5%

What happens if my company doesn’t pay me my profits?

According to the National Superintendency of Labor Supervision, failure to pay profits to a worker is considered a serious infraction. In that sense, said entity can act ex officio to apply a fine, which depending on the severity and size of the company, ranges from S/1,138 to S/260,023.

Source: Larepublica

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