Complete Guide to CTS in Peru 2024: Date of Debate, Calculation, Recipients, and Penalties if not Paid

2024-04-24 11:04:00

With 21 votes in favor and only one date on the horizon, the Economy, Banking, Finance and Financial Intelligence Commission approved by majority the opinion that authorizes workers to freely dispose of 100% of the Compensation for length of service (CTS). When will this crucial issue be debated before the plenary session? In the following note we will tell you what you need to know.

ON WHAT DATE COULD THE WITHDRAWAL OF THE CTS 2024 BE DEBATED?

The Economy, Banking, Finance and Financial Intelligence Commission approved by majority the opinion that authorizes workers to freely dispose of 100% of the Compensation for Time of Service (CTS) with 21 votes in favor, 1 once morest and 1 abstention.

Given this decision, Congressman Ilich López (Popular Action) emphasized the need for financial education in schools so that citizens can manage their resources properly.

For his part, parliamentarian Roberto Sánchez (Democratic Change) highlighted that these resources belong to the workers and that it is essential that they have the power to dispose of them.

Legislator Kelly Portalatino (Perú Libre) mentioned that this issue is expected to be debated before the plenary session. following performance week in May. This, in his words, would allow the debate to be prioritized and provide relief to affected workers.

The ruling, which includes Legislative Initiatives 7130, 7152, 7228, 7358, 7400 and others, has its origin in the economic recession facing the country, where family income is not enough to cover basic products.

It should be noted that the authorization for the exceptional withdrawal of the CTS will be valid until December 31, 2024.

HOW TO CALCULATE THE CTS 2024 PAYMENT?

According to information from Mauricio Matos, associate partner of the Labor Area of ​​EY Peru, for the Andina agency, he explained how to calculate the CTS in this way:

• For an employee who obtains an imprecise or variable main salary, the CTS will be the result of the average salary received by the worker in the six months that comprises each period. Therefore, the salary is averaged from November to April (May CTS) or from May to October (November CTS).
• That employee who receives a fixed salary but has imprecise or variable complementary remuneration, that is, has overtime, so these amounts will be included in the calculation as long as they have been received 3 or more times in the November period of the year. prior to April (May CTS) or in the period from May to October (November CTS). In this way, the concepts are added and divided by 6.

It is important to mention that, to calculate the amount, you must take into account the monthly salary that the worker receives, then add 1/6 of the bonus (dividing the bonus by six). The total is divided by 360 and then multiplied by the days worked (for the entire semester, it would be 180 days).

WHO RECEIVES THE CTS IN PERU?

• All employees of the private regime who work, at least, a four-hour day every day.
• Employees of small businesses who receive 15 daily payments per full year of service. The maximum daily remuneration is 90.
• In the case of agricultural workers, the CTS is included in the daily remuneration at a rate of 9.72% of the basic salary. However, the employee can request the payment in a differentiated and semi-annual manner, as in the common labor regime.
• Domestic workers have recently been included. They must be paid the CTS under the same conditions as the common labor regime.

WHAT HAPPENS IF THE COMPANY DOES NOT PAY THE CTS?

The National Superintendency of Labor Supervision (Sunafil) informed workers that if they do not deposit the CTS within the established date, this is considered a serious offense for which they might receive a sanction as follows:

• Small company: The fine ranges from 0.45 to 4.50 tax units (UIT), between S/2,070 and S/20,700.
• Non-Mype companies: The monetary penalty ranges from 1.57 to 26.12 UIT, which is equivalent to amounts between S/7,222 and S/120,152.

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