Question
Ruby Roy works for Monarchy Construction in Alberta and earns an annual salary of $56,500.00 paid on a monthly basis. The company provides its employees
Ruby Roy works for Monarchy Construction in Alberta and earns an annual
salary of $56,500.00 paid on a monthly basis. The company provides its
employees with group term life insurance coverage of two times annual
salary and pays a monthly premium of $0.56 per $1,000.00 of coverage.
Ruby uses her car to meet with clients on company business and receives a
taxable car allowance of $50.00 per pay. The company has a defined
contribution pension plan to which Ruby contributes 3% of her salary each
pay.
Ruby also contributes $5.00 to United Way and has $3.00 deducted for her
social club membership each pay. She belongs to the union and pays 6% of
her salary in union dues per pay period. Ruby's federal and provincial TD1
claim codes are 2. She will
not
reach the Canada Pension Plan or
Employment Insurance annual maximums this pay period.
Calculate the employee's net pay, following the order of the steps in the
net pay template.
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