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Question - Mrs. Jane is employed by a corporate in BC. Her gross monthly salary is 3,500 which including all benefits. Below is the new federal CPP rate in 2022, what is CPP deduction for Jane and her employer?
Year
Maximum Contributory
Rate (%)
Maximum CPP Employee/Employer Contribution
Annual Basic Exemption
2020
$64,900
5.70
$3,499.80
$3,500
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