Payment is coming utilities, but how do I know if the place I work is giving me the right amount? How is it calculated and which companies are required to account for profits? Here we explain everything you need to know about this benefit that workers have on the earnings of their work center.
MORE INFORMATION: Frequently asked questions about paying utilities
Profits are a percentage of net income (earnings after discounting investments and taxes) obtained by companies as a result of their management.
This benefit explains the Ministry of Labor, corresponds to workers, on the payroll, of companies that generate third category income and have more than 20 workers; with the exception of individual companies, micro-enterprises, self-management companies, cooperatives, communal companies, and civil societies.
WHAT IS PROFIT SHARING?
Profit sharing is a right recognized in article 29 of the Political Constitution of Peru, whose objective is for workers to access the net profits (if any) received by the employer as a result of their business management.
HOW DO I KNOW IF MY COMPANY HAS PAID ME THE CORRECT AMOUNT OF PROFITS??
The employer must submit a settlement sheet, detailing the calculation and the following information:
- Name or business name of the employer.
- Full name of the worker.
- Annual income of the company before taxes.
- Number of days worked by workers.
- Compensation of the worker considered for the calculation.
- Total number of days worked by all the employer’s workers entitled to receive profits.
- Total remuneration paid to all workers of the employer.
- Calculation procedure.
- Amount of the remainder generated by the worker, if applicable.
HOW IS THE DISTRIBUTION OF PROFITS FOR WORKERS CALCULATED?
What is distributed is a percentage that will depend on the activity. Hence, the determination of the amount to be distributed is carried out as follows:
- 50% depending on the days worked. Example: if it is determined that the working day generates 3 soles and you worked 180 days; it is multiplied and this part of your profits is equivalent to S/540.
- 50% based on the remuneration received by the worker: the amount of money to be distributed is divided by the sum of the salary of all the workers, this result is multiplied by everything you have earned in the year. Example: if the division is 0.02 cents and you have earned 27 thousand soles, they are multiplied and this part of your profits is also equal to 540 soles.
Both calculations are added and, according to the examples indicated, the total result of PROFITS IS S/1,080.
HOW IS THE NUMBER OF WORKERS OF A COMPANY DETERMINED?
To establish whether or not an employer exceeds the number of workers for the distribution of profits, the total number of workers who would have worked for him in each month of the corresponding fiscal year will be added and the total result will be divided by twelve. When the number of workers hired by the company varies in a month, the highest number will be taken into account, rounding to the next higher unit as long as the resulting fraction is equal to or greater than 0.5.
WHAT IS THE FINE IF A COMPANY DOES NOT PAY UTILITIES?
Failure to pay utilities is considered a serious violation. Companies that fail to comply with this obligation can be fined by the National Superintendence of Labor Inspection (Sunafil) for an amount that ranges between 6,908 soles and 114,928 soles depending on the number of workers affected.
HOW IS THE DISTRIBUTION OF PROFITS BY SECTOR?
The distribution of profits depends on the industry to which the company where you work belongs. That is the percentage of their profits that they must distribute:
- Fishing companies: 10%
- Telecommunications companies: 10%
- Industrial companies: 10%
- Mining companies: 8%
- Commerce and restaurants: 8%
- Other activities: 5%
WHEN WILL THE PROFITS BE PAID THIS 2022?
The profits must be paid within a maximum period of 30 calendar days after the company submits its annual income tax return, according to the schedule established by Sunat.
This year the first expiration for the presentation of said declaration will be March 25, therefore, from March 26 the distribution will begin. The employer will provide you with a settlement sheet with information showing how the result you were paid for was arrived at. If a company fails to pay you within the specified period, you can report it to Sunafil.
