CTS 2024: until when do companies have to make the payment and to whom does it correspond?

A whole controversy has broken out around the bill presented in the Congress of the republic that promotes the total release of Compensation for Time of Service (CTS). The initiative has already been approved by the Economy and Labor committees of Parliament, and hopes to be ratified in plenary this Thursday, May 2. This occurs in the context that there are just a few days left for private companies to deposit the CTS to their workers.

When does the CTS payment start?

All companies in the private regime have a period of up to 15 days to make the payment of the CTS. Likewise, it should be noted that the payment of this benefit is carried out twice a year: the other payment will be made in the first 15 days of the month of November.

CTS 2024: who will receive the payment?

This right to pay CTS It welcomes different categories of workers at the national level:

• Collaborators who are under the private regime and have a minimum working day of four hours a day.
• Those microenterprise workers who receive a total of 15 daily payments for each year of service with a limit of 90 daily payments.
• Agricultural workers: payment of CTS It is included in your daily salary.
• Domestic workers also receive this payment, since they were recently included.

What happens if the company does not deposit the CTS to me?

The National Superintendency of Labor Supervision (Sunafil) announced that if companies do not comply with the payment of the CTSwill be fined depending on their condition:

• Microenterprises: if they do not make the payment, they will be required to pay S/2,070 up to S/20,700.
• Other companies: the amount goes from S/7,222 to S/120,152.

Congress will debate total withdrawal of the CTS

The Board of Spokespersons of the Congress of the republic agreed to prioritize the debate on the Plenary agenda to see the opinion that proposes releasing the CTS until December 2024. This topic will be seen this Thursday, May 2.

The project that promotes total withdrawal was approved in the Commission on Economy, Banking, Finance and Financial Intelligence, with 21 votes in favor, 1 against and 1 abstention. In that line, the Labor and Social Security Commission He also approved the initiative with 11 votes in favor and 3 abstentions.

CTS 2024: who is not entitled to payment?

The payment of this benefit does not correspond to workers who work less than four hours a day.

What is CTS?

According to S.B.S.Compensation for Time of Service (CTS)is a deposit made by the employer by legal provision, whose fundamental objective is to foresee the risk caused by the termination of the employment relationship and the consequent loss of income.