Question
Finelay Construction Company has three employees who are paid on the 1st and 16th of each month for the work they performed in the preceding
Finelay Construction Company has three employees who are paid on the 1st and 16th of each month for the work they performed in the preceding half-month (paid semi-monthly; for instance, Jan 1-15 work is paid Jan 16; and Jan 16-31 work is paid Feb 1). For the pay period February 16 to February 28, each employee is owed gross pay of $1,150, but each one must have 15% of their gross pay withheld for income taxes. Each must also make Canada Pension Plan contributions of 5.7% of their gross pay and pay Employment Insurance premiums of 1.58% of their gross pay. Each employee has $19 of union dues deducted from their paycheque.
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