Shayenne works for RAD in Ontario and earns an annual salary of $59,800.00, paid biweekly. Shayenne's...
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Shayenne works for RAD in Ontario and earns an annual salary of $59,800.00, paid biweekly. Shayenne's employment will be terminated at the end of this pay period. She is entitled to 6% vacation pay on her vacationable earnings of $62,000.00 and 4 weeks' wages in lieu of notice. Her vacation pay and wages in lieu of notice will be paid together on a separate payment from her regular pay. Shayenne's federal and provincial TDI claim codes are 1. She will not reach the Canada Pension Plan or Employment Insurance annual maxinums this pay period. Calculate the employee's net pay on the separate payment. Use 2021 rates. Hint: Use the bonus method when calculating income taxes. Gross Earnings (1.5 pts) CPP Contribution (1.5 pts) EI Premium/Deduction (1.5 pts) Total Federal Tax deduction from termination pay (1.5 pts) Total Provincial Tax deduction from termination pay (1.5 pts) Total Deductions (1.5 pts) Termination Net Pay (2 pts) Shayenne works for RAD in Ontario and earns an annual salary of $59,800.00, paid biweekly. Shayenne's employment will be terminated at the end of this pay period. She is entitled to 6% vacation pay on her vacationable earnings of $62,000.00 and 4 weeks' wages in lieu of notice. Her vacation pay and wages in lieu of notice will be paid together on a separate payment from her regular pay. Shayenne's federal and provincial TDI claim codes are 1. She will not reach the Canada Pension Plan or Employment Insurance annual maxinums this pay period. Calculate the employee's net pay on the separate payment. Use 2021 rates. Hint: Use the bonus method when calculating income taxes. Gross Earnings (1.5 pts) CPP Contribution (1.5 pts) EI Premium/Deduction (1.5 pts) Total Federal Tax deduction from termination pay (1.5 pts) Total Provincial Tax deduction from termination pay (1.5 pts) Total Deductions (1.5 pts) Termination Net Pay (2 pts)
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Gross Earnings Anuual Salary 59800 Vacationable earnings 62000 6 ... View the full answer
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