You will need the following information to answer this question and the next two questions: The...

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You will need the following information to answer this question and the next two questions: 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.l: $51,300; E.I contributory rate: 1.63%; Employer share of E.I contributions: 1.4 times employee contribution. Question: Rahul is employed on a monthly pay period basis. He made $48,000 annually in 2017. What is his CPP deduction per pay period? (a) $2,202.75 (b) $84.72 (c) $183.56 (d) $198.00 You will need the following information to answer this question and the next two questions: 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.l: $51,300; E.I contributory rate: 1.63%; Employer share of E.I contributions: 1.4 times employee contribution. Question: Rahul is employed on a monthly pay period basis. He made $48,000 annually in 2017. What is his CPP deduction per pay period? (a) $2,202.75 (b) $84.72 (c) $183.56 (d) $198.00

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Annual earnings of Rahul 48000 Basic exemption is 3500 Ear... View the full answer