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Employee Reg. Hours Pay Rate Overtime Hours Plan Contribution Tax Withheld Cumulative Earning to End of Prior Period 40 5 131 1 23 90 J.
Employee Reg. Hours Pay Rate Overtime Hours Plan Contribution Tax Withheld Cumulative Earning to End of Prior Period 40 5 131 1 23 90 J. Sweeny K. Frank 30 5 6 9 6 16 500 180 17,250.00 53,000.00 14,120.00 S. Wong 135 9 1 11 31 130 CPP is 4.95% on the annual pensionable earnings of $52,400 ($55,900) maximum with the first $3,500 exempt), matched by the employer, and El is 1.66% to a maximum of $51,700 annually, with the employer paying 1.4 times the employees' contributions. Williams' pension plan allows the employee to make designated contributions which are matched by the company. Employees are paid time and a half for any overtime work. a) Calculate the Gross and Net Pay for the period. Show all calculations. b) Calculate the employer's El and CPP Expense and benefit expense. Show all calculations
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