Question

Your manufacturing organization has a semi-monthly payroll, paying on the 15th and last day of each month. Your organization pays employees in British Columbia.

On the June 15th pay date of the current year the following deductions occurred. Using the Current Year calendar in the course material, explain when each payment must be received by the issuer or administrator:

Family Maintenance Enforcement

Union Dues (collective agreement states payment due three business days after pay date)

Registered Defined Contribution Pension Plan (employer matches employee contributions)

Group RRSP

Answer 1

Answer:

Family maintenance enforcement :

The family upkeep requirement program is a free administration offered by the english columbia service of lawyer general. The fundamental motivation behind this program is to gather cash from a man for kid support and family upkeep. The manager can gather a segment of a man's month to month pay end of consistently. It is smarter to gather it toward the month's end as we have to deduct from the part of the pay.

Union dues :

The director should gather it on first and sixteenth business states three business days after installment dates which are third and eighteenth of consistently.

Registered defined contribution pension plan :

It is required to contribute a bit of a representatives compensation towards benefits approach to diminish this would lessen it from the month to month pay on fifteenth and a day ago of the consistently.

Group RRSP :

As indicated by canada government, "A RRSP is a retirement sparing arrangement that a man builds up, thet they enlist, and to which the individual on his/her mate/custom-based law accomplice contributed. Deductible RRSP commitment can be utilized to lessen your assessment". Most ideal approach to lessen this would decrease it from the month to month pay on the fifteenth and a day ago of consistently.