Several collaborators will begin to receive their respective payments for the Compensation for Time of Service (CTS), a right that corresponds to those who work within private sector companies and is distributed in two installments per year. However, there is doubt on the part of various workers who wonder What would happen to the money if you died or some other event occurred. Therefore, in this note you will know what will happen to your money if something happens to you, write down!
What happens to the CTS if the worker dies?
Many are waiting for payment CTS to use it in different situations, this is a labor right for the employee who is on the payroll, but what happens if the employee dies. What will happen to the amount of the CTS is that it will be delivered to the relatives: to the spouse or other direct relatives.
Likewise, the law details that the The company must pay the CTS within 48 hours of the death of its collaborator.. If the widow or widower wishes to withdraw the money, she will have to go to the bank in which the worker received her payments and prove her status as her spouse.
Congress live debate total liberation of the CTS:
CTS 2024: until when do companies have to pay it?
Companies have a maximum period for paying the CTS until May 15. This first payment of the year 2024 corresponds to 50%, the other half of the sum will be attributed in the first 15 days of November.
What happens if the company does not pay me the CTS?
Companies must pay the first CTS payment for this year at most until May 15. For this, the National Superintendence of Labor Supervision (Sunafil) He specified that private sector companies are obliged to make the appropriate disbursement in favor of their collaborators; However, if this is not carried out within the specified period, the organizations will receive a fine according to their condition:
- Microenterprises: if they do not make the payment within the deadline, they will be required to pay S/2,070 up to S/20,700.
- Other companies: if they do not make the payment within the deadline, the fine amounts from S/7,222 to S/120,152.
What is CTS?
As defined by the Superintendency of Banking and Insurance of Peru (SBS)the CTS It is a deposit that the employer makes by legal provision, whose fundamental purpose is to foresee the risk caused by the termination of the employment relationship and the consequent loss of income.
Congress debates total release of CTS
This Thursday, May 2, the Congress of the republic will debate the bill that proposes the total liberation of the CTS. If this decision is approved, workers will be able to withdraw their subscriptions and will have until December to do so.
Source: Larepublica
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