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Problem:
Month
Week
Compensation
Jan
Week 1
750.00
Week 2
800.00
Week 3
1500.00
Week 4
467.00
Feb
Week 5
1532.00
Week 6
788.00
Week 7
Week 8
673.00
Mar
Week 9
7456.00
Week 10
1417.00
Week 11
680.00
Week 12
979.00
Apr
Week 13
1150.00
Week 14
1334.00
Week 15
711.00
Week 16
743.00
May
Week 17
901.00
Week 18
945.00
Week 19
1300.00
Week 20
1264.00
Assuming the worker is paid weekly the total value for the employer's contribution for April is $
Employee contributions total 5% of gross earnings. The maximum amount on which contributions are payable is $5,000.00 per month, $1,160.00 per week. The Maximum 5% deductions for any given period is $250.00. Employers are required to pay 1% of gross earnings for employees under the age of 16 and over the age of 60.
The employer's contribution is 6% of the employee's insurable earnings (5% must be dectuded from the employee's salary). The maximum insurable earnings on which contributions are payable are: $5,000 per month / $1,160 per week.
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