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Charlie, a salesman, earns $68,500 per annum. He is paid semi-monthly and qualifies under Claim Code 3. On May 1st he received a commission payment
Charlie, a salesman, earns $68,500 per annum. He is paid semi-monthly and qualifies under Claim Code 3. On May 1st he received a commission payment of $3,250 and on October 14, he received another in the amount of $7,500. These payments were made on a separate cheque and issued after his regular semi-monthly earnings. Required: Create an earnings record for Charlie supporting his payroll deductions, (refer to Lesson 5 for templates). In addition, specifically detail calculations for CPP, EI & Taxes that must be deducted for each of the commission payments. NOTE: required calculations using the 'bonus method for income tax can be referenced in the Employer Guide to Payroll Deductions & Remittances Answers: (input deductions on the commission payments only) May 1st Oct 31st CPP - EI - Total Taxes = Charlie, a salesman, earns $68,500 per annum. He is paid semi-monthly and qualifies under Claim Code 3. On May 1st he received a commission payment of $3,250 and on October 14, he received another in the amount of $7,500. These payments were made on a separate cheque and issued after his regular semi-monthly earnings. Required: Create an earnings record for Charlie supporting his payroll deductions, (refer to Lesson 5 for templates). In addition, specifically detail calculations for CPP, EI & Taxes that must be deducted for each of the commission payments. NOTE: required calculations using the 'bonus method for income tax can be referenced in the Employer Guide to Payroll Deductions & Remittances Answers: (input deductions on the commission payments only) May 1st Oct 31st CPP - EI - Total Taxes =
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