Question 4 Net Pay

USE CURRENT RATES for your calculation of CPP and EI (look upon CRA website)

Mr. Payroll makes $ 1,200 bi-weekly calculate the amount of CPP to be withheld from his pay.

Gross Pay
CPP Exemption
Pensionable Earnings
CPP Rate
CPP Contributions (employee Contribution)

Calculate the amount of EI to be withheld from his pay

Gross Pay (Insurable Earnings)
EI Rate
EI Premiums withheld

Calculate the amount of Income Tax to be withheld from his pay if the tax rate is 20%.

Gross Pay
Income Tax Rate
Income Tax to be withheld

Mr. Payroll also contributes $ 20 per pay for donations to the United Way

Calculate Net Pay

Gross Pay
CPP Contributions
EI Premiums
Income Tax
United Way
Net Pay