CTS 2022: What you need to know about this payment?

Next November 15 is the deadline for Business pay compensation for the time of service (CTS) corresponding to November 2022.

Below is all the information about CTS pay for workers in Peru.

Who will receive STS?

The issuance of this social benefit is carried out workers When employed in the private sector, those who worked for the semester May – October and the amount of the deposit depends on the time that the employee is in the same company.

Remember that in order to receive payment, an employee must have at least one full month of service and work at least four hours a day.

Employees of the National Register of Micro and Small Enterprises (REMIP) also receive CTS but only have access to the 50% benefit.

Similarly, under Law 31047 and Supreme Decree 009-2021-TR, domestic workers who work at least 4 hours a day are eligible for CTS bond.

excluded from this work allowance public sector workers, informal workers, those who issue pay stubs, and those agricultural workers who choose to collect their CTS along with their daily remuneration

They also cannot get KTS employees who worked less than 4 hours a day; employees of the micro-enterprise hired after the registration of the company in Remype; and employees who have entered into agreements with their employer to receive a comprehensive annual remuneration.

How to calculate how much I will be paid?

The Lima Chamber of Commerce (CCL) indicates that the amount varies depending on the type of company and the time worked during the semester.

For medium and large companies KTS his employees should be 50% of the salary received in October, plus 1/6 of the bonus received in July.

For example, if your salary in October was 3,000 Sicilian dollars and the sixth bonus was 500 Sicilian dollars, then the estimated remuneration that will be taken into account for the CTS deposit will be 3,500 Sicilian dollars. Accordingly, if you have worked for the last six months, you must calculate 50% of this remuneration, i.e. you must divide it by two, which in the example would be S/1750.

However, if you have not worked for the entire semester, this means that you will only receive one-sixth of the accrued remuneration for each month you work for the same company.

In the case of a small company whose annual income did not exceed 1,700 tenge, three factors must be taken into account:

1. If a business is not registered with the Registry of Micro and Small Enterprises (Remype), all of its old and new employees will be eligible for CTS, as is the case with large companies.

2. If a company is registered with Remype, then employees hired prior to registration will be eligible for CTS.

3. If the worker was hired after the registration of the company in Remype, his CTS will be 50% of what is obtained in the general mode.

For microenterprises A similar case applies to small businesses, with the difference that if workers were hired after the micro-enterprise was registered with Remype, those workers are not eligible for CTS.

CTS output

Remember, with Law #31480 in effect since May, workers can withdraw 100% of their CTS.

The law allows employees to use all deposits to compensate for the time of work performed in financial institutions and that they have accrued at the disposal date through December 2023.

Also, Law No. 30334 continues to be in force, according to which employees can deduct an excess of four salaries from their PTS.

Can STS be arrested?

As they point out, KTS deposits can be arrested if the employee has debts for food and up to 50%. Keep in mind that the KTS is necessarily kept in the bank chosen by the employee, even if there is a court arrest for alimony debts.

In this case, the company must inform the judge that the CTS is deposited in accordance with the law and that in any case, the seizure must be requested by the depositary bank, except in the case of a CTS that is registered in a work camp that has ceased to exist and its due date storage has not yet expired.