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
- 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:
- Vikrams CPP & E.I contributions per pay period (2%)
- What is the total remittance to CRA that his employer has to send, including the employer share? (2%)
- ALSO NEED CALCULATIONS
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