Question
. a) Rhonda Golds life insurance coverage, through her employers group plan is two times her annual salary of $30,000. Her employer pays the insurer
. a) Rhonda Golds life insurance coverage, through her employers group plan is two times her annual salary of $30,000. Her employer pays the insurer 100% of the cost of her life insurance coverage at a premium rate of $ 1.00 per $1,000.00 of coverage per month. Rhonda is paid on weekly basis. Calculate her taxable benefit per pay period.
b) Player Flooring, located in BC has a weekly pay period. France Lavergne works in the shipping/receiving department, earns $ 18.50 per hours and works 40 regular hours per week. France works overtime every week; in this pay period she worked 4 hours overtime each day from Monday through Thursday. The organization pays employees 1 and time their regular hourly rate for overtime hours worked and provides a $ 20.00 meal allowance per day to employees who work overtime. Calculate Frances net pay.
i. Determine Gross Earnings
ii. Determine non cash taxable benefits
iii. Determine CPP
iv. Calculate EI Premium
v. Determine Federal tax and provincial tax (15% and 5% respectively)
vi. Total deductions
vii Net pay
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