At this time, the unofficial timeframe for CM Punk's return is three weeks. More information should be available soon.
Punk had been working through a knee injury for several weeks, but due to the meniscus damage, he knee started to lock up and he couldn't go at 100%.
After the surgery, there was a chance that Punk would work the TLC PPV and many professional athletes who have undergone the same procedure have gone back to work within a few weeks. WWE decided against that due to Punk being a top guy and also because of the planned mach with the Rock at the Royal Rumble.