Until Monday, May 16, companies must make the deposit of the Compensation for Time of Services (CTS), which is a labor right that works like unemployment insurance. Although this benefit is an intangible fund, it can be seized for judicial reasons. Here we tell you all the details.
According to the Lima Chamber of Commerce, CTS deposits can be seized when the worker has food debts and up to 50%.
“Keep in mind that the CTS is obligatorily deposited in the bank chosen by the worker, even when there is a judicial embargo for alimony debts.”, explained the manager of the Legal Center of the CCL, Álvaro Gálvez.
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He added that in this case, the company must inform the judge that the CTS has been deposited according to law.
“In any case, the attachment must be requested from the depositary bank, except in the case of the CTS that is consigned in the liquidation of the worker who ceases and whose term for its deposit has not yet expired.”, he referred.
How to calculate the CTS?
To find out how much you will receive for CTS, the Comparabien portal explains:
- Take your monthly salary into account, then add 1/6 of your bonus to it (divide your bonus by six).
- That amount, divide it by 360 and then multiply it by the days worked (for the entire semester, it would be 180).
For example, with a basic salary of S/ 1,500:
- 1/6 bonus: S/ 250
- Basic salary plus 1/6 bonus: S/ 1,500 + S/ 250 = S/ 1,750
- Salary plus 1/6 bonus over 360 days: 1,750/360 = 4.86
- Amount previously obtained by number of days worked (if you worked a full semester, it is multiplied by 180) = 4.86 * 180 = S/ 874.8
- What you will receive from CTS would be approximately S/ 874.8.
“In some cases, overtime, commissions or bonuses received by the worker will be added. This will depend on the labor regime in which you find yourself, so it is advisable in this case to request the information from the Human Resources area.”, indicates the portal.
How do I verify the correct calculation and disbursement of the CTS?
According to Mauricio Matos, Associate Partner of the Labor Area of EY Peru, the employer has the obligation to grant a CTS calculation settlement to each worker, as well as to credit the deposit in the financial system account chosen by the worker.
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For this calculation, the remuneration received by the worker as of April 30 or October 30 is taken as a reference, depending on whether it is the May deposit or the November deposit, respectively.
The specialist stated that in both cases, the CTS to be deposited is equal to 50% of said amount each time.
Likewise, he mentioned that 1/6 of the bonus for the corresponding period should also be included.
In this sense, for the May CTS, for example, 1/6 of the December 2021 bonus must be included. This is because it is a remuneration to which the worker is subject by law.
