payroll compliance

I - Answer the following questions briefly (15 points) 1) What is the objective of the payroll function? The objective of payroll function is to pay employees accurately and on time, in compliance with legislative requirements, for a full annual payroll cycle. 2) List the three main stakeholders of the payroll function? Government stakeholders, Internal stakeholders and External stakeholders 3) The CRA tracks the success of the first part of its mandate by measuring compliance in four areas. Describe them. Filing, Registration, Remittance and Reporting 4) What is a non-cash taxable benefit? Give an example. It is an item the employer either provides to an employee or pays for on an employee's behalf. E.g., Group term life insurance premium, Company automobile 5) Explain what Employment Insurance (EI) is about briefly. EI is a social program legislated under the federal Employment Insurance Act. The program provides assistance to workers who lose their jobs, or must be off work under other qualified cireumstances, and helps unemployed people get back to work. I - Answer the following questions briefly (15 points) 1) What is the objective of the payroll function? The objective of payroll function is to pay employees accurately and on time, in compliance with legislative requirements, for a full annual payroll cycle. 2) List the three main stakeholders of the payroll function? Government stakeholders, Internal stakeholders and External stakeholders 3) The CRA tracks the success of the first part of its mandate by measuring compliance in four areas. Describe them. Filing, Registration, Remittance and Reporting 4) What is a non-cash taxable benefit? Give an example. It is an item the employer either provides to an employee or pays for on an employee's behalf. E.g., Group term life insurance premium, Company automobile 5) Explain what Employment Insurance (EI) is about briefly. EI is a social program legislated under the federal Employment Insurance Act. The program provides assistance to workers who lose their jobs, or must be off work under other qualified cireumstances, and helps unemployed people get back to work