CTS 2024 in Peru: when is it deposited and how to calculate the amount that corresponds to me?

The opinions that authorize a new withdrawal of the Compensation for Time of Service (CTS) until the end of 2024 will soon be debated in the Plenary Session of Congress. According to the opinions of various parliamentarians, the votes required to approve said legislative proposal are available and it is only a matter of days for its final validation.

While this is being resolved, many Peruvian workers are awaiting payment of this economic benefit that serves as a savings fund in situations of dismissal or resignation. Next, find out what the deadline is for private companies to deposit the CTS and find out all the steps to calculate this amount.

CTS 2024: when is it deposited?

According to the Lima Chamber of Commerce, employers must deposit the CTS twice a year: once in May and the other in November. In that sense, the next Wednesday May 15 The deadline expires for micro, small, medium and large companies to pay their workers this economic benefit that corresponds to the semiannual period November 2023-April 2024.

How to calculate my CTS for May?

To calculate the amount you should receive in May through CTS, the type and size of your company must be considered, according to the Lima Chamber of Commerce.

Medium and large company

If a worker worked the entire six-month period (November 2023-April 2024), the CTS is calculated considering 50% of the gross salary for April, plus one sixth of the bonus received in December 2023. In case he has not worked their work during said period, for each month worked, one sixth of the salary plus the same fraction of the bonus will be received. Next, check out the following example:

• If the worker worked the entire semester and earns the minimum wage (S/1,025), 1/6 of the December bonus (S/170) must be added. In total, this results in S/1,195.
• Then, you have to divide the salary plus 1/6 of the bonus by 360 days: 1,195/360 = S/3.31
• The result obtained above must be multiplied by the number of days worked = S/3.31 x 180 = S/595.8
• The total CTS to be deposited will be S/595.8.

CTS in small business

It refers to those whose annual income did not exceed 1,700 UIT (S/8 million 755,000). In this sense, three cases are presented

1. 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.
2. If the small business is registered with Remype, workers hired before its registration may receive payment of the CTS.
3. 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

It is one whose annual income does not exceed 150 UIT. In the same way as the previous one, three cases are presented:

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

CTS 2024: what is the fine for not depositing the CTS?

In the event of failure to deposit the CTS within the established period, the Superintendence of Labor Inspection (Sunafil) may apply differentiated fines for serious infractions.

“Here three scales of fines will be applied for micro, small, medium and large companies, which range between S/566 and S/134,518,” indicated Álvaro Gálvez, legal manager of the Lima Chamber of Commerce.

It is worth mentioning that the scales of these fines were approved by DS008-2020-TR (02/10/20) and vary depending on the size of the company and the number of affected workers.

In what cases can your CTS be seized or withheld?

CTS deposits can be seized up to 50% for food debts. Although this economic benefit is paid in a bank or entity chosen by the worker, the company must inform the judge that the CTS has been deposited in accordance with the law and that the seizure must be requested from the depositary bank.

Can the CTS be withdrawn in 2024?

No. Despite the existence of two opinions that seek to authorize a new withdrawal of 100% of the CTS for all of 2024, a replacement text has not yet been debated or approved in the Plenary of Congress, and therefore, it cannot be implement the scope of the standard. Let us remember that December 31, 2023 was the last day on which Peruvians had the opportunity to freely dispose of their CTS, thanks to the provisions of Law No. 31480.