Question: Information you may need to do the following calculations: Maximum annual pensionable earnings for 2017 = $55,300; Basic annual CPP exemption = $3,500; CPP contribution

Information you may need to do the following calculations:

Maximum annual pensionable earnings for 2017 = $55,300;

Basic annual CPP exemption = $3,500; CPP contribution rate for 2017 = 4.95%

Maximum insurable earnings for 2017 = $51,300; E.I premium rate for Ontario

for 2017 = 1.63%; Employers share of E.I contribution for 2017 = 1.4 x Employee share

  1. Vikram received $1,500 bi-weekly pay in 2017. His total taxable benefits were $5,000 for the year, which has not been factored into his income. Calculate the following:
  1. Vikrams CPP & E.I contributions per pay period (2%)
  2. What is the total remittance to CRA that his employer has to send, including the employer share? (2%)
  3. ALSO NEED CALCULATIONS

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