An employee, who had been with the company for 6 years, passed away on August 31, 2021.
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Question:
An employee, who had been with the company for 6 years, passed away on August 31, 2021. She had been earning a monthly salary of $5,900 and had regular CPP and EI deductions taken off this salary on every cheque up to and including her August 31 payment. Calculate: a) Her maximum CPP contribution for the year. b) How much should be refunded to her estate, if any?
cpp rate 5.45%
cpp annual basic exemption $3,500
maximum insurable earnings $56,300
premium rate 1.58%
Maximum annual employee premium $889.54
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