Question
For the following earnings amount, determine the employees CPP contribution and the EI premium to be deducted, assuming the yearly maximums will not be reached
For the following earnings amount, determine the employees CPP contribution and the EI premium to be deducted, assuming the yearly maximums will not be reached.
Monthly earnings of $3,630.10 (using the formulas or the tables)
determine the employers CPP and EI contributions.
cpp rate 5.45%
cpp annual basic exemption $3,500
maximum insurable earnings $56,300
premium rate 1.58%
Maximuam annual employee premium $889.54
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Fundamental Accounting Principles
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
20th Edition
1259157148, 78110874, 9780077616212, 978-1259157141, 77616219, 978-0078110870
