How much the employee will get every month

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Reference no: EM133472132

Question: Explore any of your own payslip and find out the deductions and components.

In Canada - for employees within 1-5 years service - 2 weeks Vacations leaves are allowed every year and are paid @ 4% of your basic pay including overtime.

CPP Rates are 5.95% for 2023 and 5.70% for 2022.
EI Rates are 1.63% 2023 and 1.58% for 2022.

Taxes are a mix of Federal Tax and Provincial Taxes. (Rates are available on www.canada.ca).

If your department hires an employee @ 3,000 per month, how much the employee will get every month and how much will be the total cost for the company.

Reference no: EM133472132

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