Question
You will need the following information to answer this question: The 2017 rates for CPP & E.I are as follows: Maximum Pensionable Earnings for CPP:
You will need the following information to answer this question: The 2017 rates for CPP & E.I are as follows: Maximum Pensionable Earnings for CPP: $55,300; Basic Exemption for year: $3,500; CPP contributory rate: 4.95%; Employer has to match Employee share for its E.I contribution. Maximum Insurable Earnings for E.I: $51,300; E.I contributory rate: 1.63%; Employer share of E.I contributions: 1.4 times employee contribution. Paul is employed on a weekly pay period basis. He made $50,000 annually in 2017. The total amount of taxes deducted were $7,500 for the year. What is the CPP deduction per pay period? Type your answer below. Do not use the dollar ($) sign in your answer.
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