Question
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
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 |
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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 |
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