CTS 2022: Do you know how to calculate how much you will be paid?

Long Service Compensation (CTS) is due this month to all payroll employees who worked between May and October in the same business.

The CTS entry deadline is November 15th, but do you know how much you should get?

According to Jorge Carrillo, professor and finance expert at Pacífico Business School, the payment is equivalent to salary no discount plus one sixth of the last remuneration received. It is assumed that approximately 1.17 wages are paid per year.

This payment is divided into two parts because it is made twice a year: in May for those who work from November to April; and in November for employees who are on the payroll from May to October.

For example: if an employee remuneration out of SGD 3,000 per month, your annual CTS will be SGD 3,500 and you will receive a semi-annual payment of SGD 1,750 in May and SGD 1,750 in November.

Another example: if your base salary is 1500 S/S and 1/6 of your bonus is 250 S/S, then the sum of both factors is the CTS that will match you for one year.

You must divide this amount by two, since the November CTS is one of two payments received during the year: that is, the sum of S/1750/2 will give you the result of S/875, which will be an approximate payment. month.

App to calculate your CTS

On the other hand, the National Labor Inspectorate (Sunafil) indicates that it has included an application in which workers can calculate their KTS automatically.

If you want to perform the calculation in this way, you must enter the following link: https://aplicativosweb6.sunafil.gob.pe/si.calculadoraLaboral/inicio

In the link provided, they must indicate their document type and number, their date of birth, as well as the document type and number. business where you work or have worked.

The tool can be used not only by current employees, but also by those who have recently quit and want to calculate their truncated CTS.

These workers will not receive CTS

Sunafil indicates they are excluded from receiving KTS those workers who work part-time (part-time) and those who have annual comprehensive remuneration agreements that include this benefit.

CTS will also not be available to those who work in a REMYPE-accredited micro-enterprise or to workers who receive 30% or more of the fees paid by the public for services.

fines

Companies that don’t pay KTS within a specified period, they can be fined depending on the type of activity and the number of affected workers.

According to Sunafil, small companies can be fined between 0.45 and 4.50 of the current UIT value (2,070 to 20,700 soles).

For companies that are not mapthe size of the sanction varies between 1.57 and 26.12 ITU, that is, between S / 7.222 and S / 120.152).