Utilities 2022: How many workers would be paid?

On March 25, the payment of profits begins, a benefit that recognizes the cooperation of the workers on the payroll to the achievement of the annual result (in this case that of 2021) of the companies.

Estimates of Jorge Ojedaan expert in finance, anticipate that an approximate of 1 million 540,000 workers will be awarded with the utilitiesthat is, 40% of a total of 3 million 850,000 workers registered on the payroll during 2021. The global figure, in the words of the analyst, represents some 350,000 added jobs, compared to the 3,500,000 that were in 2020.

While, the amount of total soles that the companies will distribute ranges between S/ 3,000 to S/ 3,200 million, Ojeda calculated.

“That is due to the economic growth reflected in the collection of the 2021 income tax, which was higher than in 2019, without a pandemic,” Ojeda commented, referring to the 24.7 percentage points obtained by the income tax on last year.

“As the collection of the Income tax of 2021 exceeded not only that of 2020, but also that of 2019, due to the faster-than-expected economic reactivation, so it follows that the profits to be distributed to workers will also increase,” said Arturo García, professor of ISAN.

However, Mauricio Matos, assistant to the Labor Area of ​​EY Peru, mentions that it should also be considered that if a business carries losses from the 2020 financial year, it must offset this loss before determining whether or not it should distribute profits with respect to the 2021 financial year, “so it could happen that there is Business that having had a more auspicious year 2021, they are still in the process of recovering the losses of the previous year”.

What will be the sectors that will receive more or less profits?

In accordance with EY Perubased on estimates from the Ministry of Labor and Employment Promotion (PEMT), the most dynamic economic sectors in 2021, in terms of employment, have been the agricultural and fishing, mining, manufacture and building.

To a lesser extent, the sectors of trade, business services, transport, teachings, financial services and restaurants and hotels“so it is to be expected that the first four mentioned are the ones that may have generated greater profits for the workers.”

Everything you need to know about paying utilities

The distribution of profits is made in the Business that have more than 20 workers on the payroll and have generated third-category income during the 2021 financial year. The company that fails to comply will have to pay an amount that ranges between S/ 6,908 and S/ 114,928 depending on the number of workers affected, according to Sunafil.

When must utilities be paid?

According to EY Peru, the rule that regulates the payment of utilities specifies that these must be distributed (paid) within 30 calendar days following the expiration of the term indicated by the legal provisions for the presentation of the Annual Income Tax Return. In this way, “Taking into account that the 2021 starts from March 25 to April 8, employers have a maximum of 30 days after their respective due dates to pay the utilities”.

There is also the possibility of advancing the payment of the utilities before the date of presentation of the DJ, which allows the Business deduct the corresponding expense in fiscal year 2021. “That is why it is very likely that we will find cases where the companies to this date have already paid the utilities to their workers”.

How is the amount of profits to be distributed calculated?

According to Matos, from EY Peru, this amount is variable, since it depends on several factors to consider:

• In the first place: the annual net income (before taxes) generated by the company obliged to distribute profits in 2021 and the percentage that must be distributed depending on the industry (fishing, telecommunications and industrial companies must distribute 10 % of their annual net income, while mining, commerce and restaurants are obliged to distribute 8%, while companies that carry out other activities, including agricultural ones, must distribute 5%).
• Secondly: it depends on the remuneration received by the beneficiary worker of the distribution in the year 2021 (the higher the remuneration, the greater the utility).
• And, thirdly: it depends on the actual and effective days worked by the worker in the year 2021 (the greater the number of effective days worked in the year 2021, the greater the utility).
• Thus, the calculation of the amount is made with a first 50% of the number of days, and the other 50% will be distributed in proportion to the remuneration. The sum of both concepts must be paid to the workers for profits, up to a maximum limit of 18 salaries.

For example, if a company has a profit of S/ 1,000,000 to be distributed among 100 workers; the first S/ 500,000 will be divided among the number of collaborators and the amount would be S/ 5,000 each. The other remaining S/ 500,000 is divided between the working days of each of them. When both amounts are added, the total to be received is obtained.

Payment of utilities: cases

• The workers who have completed maternity leave during the year will not be affected in the payment of their utilities.
• The leave with compensable credit for risk personnel for the COVID-19: a person in this situation will see the payment of their utilities affected, because although the worker will receive them for 50% in proportion to the remuneration, they will not receive the 50% linked to the days worked, since there was no effective provision of services in said period.
• The former workers of the company maintain the right to collect the profits generated during the period in which they worked in the company. The term to collect said profits expires after four years. In case this benefit has not been collected within this term, the utility must return to the amount to be distributed to the workers of the year in which the prescription operates.