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Withdrawal of CTS 2024: what is missing for the ruling to release 100% of funds to be approved?

Withdrawal of CTS 2024: what is missing for the ruling to release 100% of funds to be approved?

A few days ago, the Economy and Labor commissions approved 2 opinions that authorize formal workers to withdraw 100% of the Compensation for Time of Service (CTS) for all of 2024. According to the opinion of various parliamentarians to La República, the process validation of this proposal towards its promulgation is progressing without problems.

However, a series of administrative procedures still remain for these proposals to be discussed in the Plenary Session of Congress that would take place during the first week of May, since the parliamentarians are in representation week from April 22 to 26. Below, we tell you all the details about the legislative route so that the release of the CTS is finally approved and published in the newspaper El Peruano.

What is missing for the withdrawal of CTS until 2024 to be approved?

The rulings that authorize payroll workers to make a new disbursement of 100% of the CTS until December 31, 2024 will be discussed next week in the Plenary Session of Congress. According to the opinions of various party representatives, there is a broad consensus for the approval of this measure that only requires a simple majority of votes.

However, there are a series of prior procedures for the opinions to be referred to the Legislative Assembly. According to article 30 of the Regulations of this State power, the Board of Directors is the body in charge of approving the agenda of each plenary session and defines the projects that will be discussed in the agenda of the session.

Likewise, “no opinion can be debated that has not been published on the Congress portal at least seven calendar days before its discussion in the Plenary, unless a waiver of one of these requirements is approved by the Board of Spokespersons.” “, specifies article 78.

Given this scenario, various congressmen have been demanding that the discussion of the withdrawal of the CTS be prioritized until the end of 2024. One option that parliamentarians have to advance the debate is to reach an exoneration agreement in the next session of the Board of Spokespersons and, once both opinions enter the agenda of the Plenary Session, they can be agreed upon in a single text to proceed to its subsequent debate and vote.

If approved, the law’s signature must be sent to the Executive Branch, which could observe it or authorize its publication in the newspaper El Peruano. After that, the 10-day period for its regulation begins to run.

CTS Withdrawal: when would it be debated in plenary?

According to the latest statements by the president of the Economy Commission, César Revilla, The ruling that authorizes a new withdrawal of 100% of the Compensation for Time of Service (CTS) could be debated in the Plenary Session of Congress before the first half of May.

“We would have to wait two weeks. It is signed, it is published and it has to be published for two weeks or so. Then, the week of representation is coming and the following week a vote could be held. If approved on Wednesday, the opinion could be voted on in the fortnight of May or, if not, it will be a matter of a week. There are parliamentary procedures that have to be followed,” he indicated in the RPP program ‘Economy for all’.

Likewise, he said that, if the Executive Branch does not observe the rule, formal workers could access the money accumulated in their CTS accounts by the end of May.

CTS Withdrawal: review projects to release 100% of funds

  • CTS Retirement until December 31, 2024 – Elva Julón (Alliance for Progress)
  • CTS Retirement until December 31, 2025 – José Pazo (Somos Perú)
  • CTS Withdrawal until December 31, 2026 – Segundo Quiroz (Perú Libre)
  • CTS Retirement until December 31, 2024 – Edgar Reymundo (Together for Peru)
  • CTS withdrawal until December 31, 2025 – Segundo Montalvo (Perú Libre)
  • CTS retirement until December 31, 2024 – Raúl Doroteo (Popular Action)
  • CTS withdrawal until December 31, 2024 – Jorge Coayla (Perú Libre)
  • AFP withdrawal of up to 4 UIT and CTS withdrawal until December 31, 2025 – Luis Aragón (Popular Action)
  • CTS withdrawal until December 31, 2024 – Flavio Cruz (Perú Libre)
  • CTS Retirement until December 31, 2024 – Alejandro Soto (Alliance for Progress)
  • CTS retirement until December 31, 2025 – Jorge Luis Flores (Popular Action)
  • CTS retirement until December 31, 2024 – Gustavo Cordero Jon Tay (Popular Action)
  • CTS retirement until December 31, 2024 – César Revilla (Fuerza Popular)
  • CTS Withdrawal until December 31, 2025 – Digna Calle (Vamos)
  • CTS Retirement until December 31, 2025 – Jorge Marticorena (Peru Bicentennial)
  • CTS Retirement until December 31, 2024 – Guido Bellido (Peru Bicentennial)
  • CTS withdrawal until December 31, 2025 – Darwin Espinoza (Popular Action)

When do they deposit the CTS 2024?

According to the Lima Chamber of Commerce (CCL), workers who are subject to the private activity labor regime receive their CTS payment twice a year, which serves as unemployment insurance. In that sense, Companies have a maximum deadline of May 15 to make the deposit of this labor right corresponding to the semiannual period November 2023-April 2024.

How to calculate the CTS?

The Lima Chamber of Commerce points out that the amount of Compensation for Time of Service varies depending on the type and size of the company.

Medium and large company

If a worker worked the entire entire semester period, The CTS is calculated considering 50% of the gross salary for April, plus one sixth of the bonus received in December 2023. In the event that work has not been performed within said period, for each month worked, one sixth of the salary plus the same fraction of the bonus will be received.

CTS in small business

There are three cases related to the payment of the CTS in small businesses:

  • If the small business is not registered with Remype, all its old and new workers will have the right to CTS in accordance with the general rule that applies to medium and large companies.
  • If the small business is registered with Remype, workers hired before its registration may receive payment of the CTS.
  • If the worker has been hired after the company registered with Remype, his CTS It will be 50% of what is obtained in the general regime.

CTS in microenterprises

  • If the microenterprise is not registered with Remype, all its workers will have the right to receive the CTS under the general rule.
  • If the microenterprise was registered with Remype, workers hired before registration can receive the CTS payment under the general rule.
  • If the workers were hired after the microenterprise was registered with Remype, these collaborators do not have the right to the CTS.

What is CTS?

Compensation for Time of Service (CTS) in Peru is a labor benefit whose main objective is to provide an economic security fund for workers in case of unemployment. This benefit is mandatory and is deposited in May and November of each year. This fund can only be withdrawn under certain conditions established by law, such as the termination of the employment relationship or in particular situations that legislation allows.

Source: Larepublica

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