Question
An employee earns $55,000 per year and is paid on a semi-monthly pay schedule. The employee enjoys the benefit of a company paid cell phone
An employee earns $55,000 per year and is paid on a semi-monthly pay schedule. The employee enjoys the benefit of a company paid cell phone for personal use (cost is $150 per month) and receives 6% vacation pay on each payment. This pay cycle included 15 hours of approved overtime worked over the normal 40 hour work week and a reimbursement for travel expenses in the amount of $434.20. The employee contributes 5% of their regular wages to a Registered Retirement Savings Plan each pay cycle.
1 . The employee is 32 years old and has contributed $1,212.15 to Canada Pension Plan so far this year. Calculate the Canada Pension Plan Contribution. 2 . The employee is 32 years old and has contributed $460.37 to Employment Insurance so far this year. Calculate the Employment Insurance Premium.
3. The employee is a Claim Code 1 both Federally and Provincially and works in Ontario. Use the PDOC to calculate Provincial and Federal tax deductions assuming the date of pay is March 7, 2015.
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