Describe salary and benefit package

Assignment Help Financial Management

Reference no: EM131604517

The new seafood processing plant in a rural coastal community at least one (1) hour from Charlottetown, will employ a manager, an accountant, an administrative assistant, a buyer and a maintenance person for 52 weeks a year. All other staff will be seasonal, working from the middle of April to the end of November.

They have asked your company to determine a salary and benefit package for each of the positions listed above within a total salary budget of $420,00.

Case assignment:

Describe the salary and benefit package that you would recommend for each of the following positions listed below and advise how you determined that salary and benefit package.

- Plant Manager

- Accountant

- Administrative Assistant

- Maintenance Person, also called Building Operator

Employer's Share of the Benefit Options

- The CPP and EI mandatory benefits are 4.95% and 2.282% respectively of the salary, as listed below;

- Pension can up to 7% of salary;

- Long term disability - up to 2% of salary per month;

- Group health and dental - $115 for single coverage a month and $175 for family coverage a month;

- Life insurance - .90 per thousand a month

For your Information

Canada Pension Plan Employer Contribution

Annual Maximum Pensionable Earnings $55,300

CPP Contribution Rate 4.95%

Annual Maximum CPP Employer Contribution $2,564.10

Employment Insurance Employer Contribution

Annual Maximum Insurable Earnings $51,300.00

Annual Maximum Employee Contribution $836.19

Reference no: EM131604517

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