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Calculate the Canada Pension Plan contribution

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Reference no: EM133031150

Question - A 30 year-old Alberta employee earns $2,475.00 bi-weekly. Each pay period, he has a non-cash taxable benefit of $37.50, pays union dues of $30.00, and contributes 4% of his earnings to a registered company pension plan. His federal and provincial TD1 forms indicate a claim code of 2. He is not in receipt of benefits from the Canada or Québec Pension Plan. To date he has had $773.40 in Canada Pension Plan contributions and $561.20 in Employment Insurance premiums deducted.

Required -

1. Calculate the Canada Pension Plan (CPP) contribution?

2. Calculate the Employment Insurance (EI) premium?

Reference no: EM133031150

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