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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

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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. Calculate the Gross Earnings. 2. Calculate the Pensionable Earnings. 3. Calculate the Insurable Earnings. 4. 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 5. The employee is 32 years old and has contributed $460.37 to Employment Insurance so far this year. Calculate the Employment Insurance Premium. 6. Calculate the Gross Taxable Earnings 7. . Calculate the Net Taxable Earnings. Explain what deductions are allowed.. 8. 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 9. Calculate the net pay for this employee, Be sure to list all of the deductions from the employee's pay for this pay cycle. (Note: if you do not have access to the PDOC assume Federal Tax deduction = $394.90 and Provincial Tax deduction = $191.45). Based on 2019 rates and T4032.45 tables

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