Question

An employee's weekly earnings are $1,655.00. The employee's year-to-date Canada Pension Plan contributions are $1,050.00 and the employee's year-to-date Employment Insurance premiums are $384.00 for 2018. Step 1: CPP Step 2: Employer portion of CPP Step 3: EI Step 4: Employer portion of EI

Answer 1

Solution:-

• An employee's weekly earnings = $1,655.00
• Canada Pension Plan contributions = $1,050.00
• the employee's year-to-date Employment Insurance premiums = $384.00

here we need to find that the given fallows;

   1: CPP

2: Employer portion of CPP

3: EI

4: Employer portion of EI

1: CPP:

here, we are considering the equal contribution of employee & employer of$1,050.00

so, now we are caluculating the CPP, we know the formula for CPP is;

CPP= contribution of employe+ contribution of employer

= $1,050.00+ $1,050.00

= $2100.00

  

CPP = $2100.00

2: Employer portion of CPP :

• here the the Employer portion of CPP is equal to the contribution of employee & employer
• as per given data contribution of employee & employer is$1,050.00
• so, the Employer portion of CPP = $1,050.00

​ 3: EI :

here we know from thegiven data for employee's EI = $384.00

   here we know the formula for employer contribution EI = 1.4*employee's contribution

= 1.4*$384.00

= $537.00

employer contribution EI  = $537.00

NOW, TOTAL EI =  employer contribution EI +  employee's EI

=   $537.00 +  $384.00

= $921

TOTAL EI = $921

4: Employer portion of EI:

here we know the formula for employer contribution EI = 1.4*employee's contribution

= 1.4*$384.00

= $537.00

Employer portion of EI =  $537.00