The deadline for payment of the first deposit of the CTS is about to expire. Find out what sanctions a company that fails to grant the corresponding amount of Time of Service Compensation (CTS) would receive. It should be noted that Not all private sector workers have this work benefitwhich is under the supervision of the National Superintendency of Labor Supervision (Sunafil).
What happens if they don’t give me the correct CTS amount?
As noted, companies have until May 15 to make the first deposit. Compensation for Time of Service (CTS). This extra income, which seeks to meet the needs of the person in case they are unemployed in the future, becomes even more important with the next withdrawal of the CTS approved by the Congress of the Republic. This because of This last payment may also be withdrawn.
If the company deposits an incorrect amount of the CTSthis action is classified as a Serious offenseso it could be sanctioned with a corresponding fine to a percentage of a ITU and depending on the number of affected workers and the regime to which they belong.
How is the CTS payment calculated?
To know how to correctly calculate the payment of the Compensation for Time of Service (CTS), it is necessary to consider several factors. Firstly, if you want to determine what a worker who worked for more than six months will receive, the calculation is as follows:
CTS = Gross salary (without discounts) + average variable remuneration + 1/6 bonus received + family allowance (if applicable) / 360 days for the number of days worked.
In the event that you still do not know how much they should pay you until May 15 or if you worked less than six months, The Republic It has a calculator that can help you. You just have to click on the next link.
Who receives CTS?
Based on the information provided by the National Superintendence of Labor Supervision (Sunafil)the majority of workers who work at least four hours a day They have the right to receive the Compensation for Time of Service (CTS). As recalled, the payment of the CTS It is a social benefit that is granted twice a year. Regarding the first payment of 2024, the deadline for companies to make the deposit expires on May 15. On the other hand, the Sunafil reports that the correct payment of the CTS It is one of the benefits with increased non-compliance by employers.
Which workers do not receive CTS?
The National Superintendence of Labor Supervision (Sunafil) points out that not all private sector workers have the right to receive the Compensation for Time of Service (CTS). Among them are:
- Employees with less than three months of work
- Part-time or part-time workers
- Workers under the Annual Comprehensive Remuneration regime
- Microenterprise workers. In this case, workers have 15 days of vacation as a work benefit.
Source: Larepublica
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