An employee has weekly earnings of $750.00. What is their Canada Pension Plan contribution? O $34.44 O $35.08 O $38.91 O $42.75
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- Q1. Your employer uses a flat benefit formula to determine retirement payments to its employees. The fund pays an annual benefit of $2,500 per year of service. Calculate your annual benefit payment for 25, 28 and 30 years of service.6., RST Company offers a qualified retirement plan. Each employee contributes 4 percent of his or her pretax income to the plan, and RST matches each employee's contribution. An employee's benefit at retirement is determined by his or her account balance at the time of retirement. What type of retirement plan does RST offer? a. Defined contribution plan. b. Defined benefit, flat percentage of annual earnings c. Defined benefit, unit-credit formula. d. Defined benefit, flat dollar amount for all employeesDog
- Can someone please explain how I answer this question? It's question number 3EA16. LO 12.5 An employee and employer cost-share pension plan contributions and health insurance premium payments. If the employee covers 35% of the pension plan contribution and 25% of the health insurance premium, what would be the employee's total benefits responsibility if the total pension contribution was $900, and the health insurance premium was $375? Include the journal entry representing the payroll benefits accumulation for the employer in the month of February. Solution What would be the employee's total benefits responsibility?What is the Health Savings Arrangement (HSA) catch-up contribution limit for an employee who is 58 years old and married? O $3,600 O $1,000 O $7,200 O $1,050
- PLS HELP ASAPHow much is the annual retirement benefit expense for the year ended December 31, 2021? a. ₱ 312,902 b. ₱ 1,390,675 c. ₱ 104,301 d. ₱ 417,203Your gross annual pay is $19 163. Employment insurance premiums are deducted at a rate of 2.25% and Canada Pension Plan premiums are 3.75% based on total earnings. You pay income taxes at a rate of 17% on all amounts over $8131. What is your Net Pay for the year? A) $16 137.78 B) $15 137.78 C) $16 317.78 D) $17 137.78 E) $18 237.78
- If an employee X has CNA =₱18,291.09, 13th month pay = ₱27,891.00, other benefits = ₱10,000, and ₱3,000 of the other benefits is the clothing allowance. How much of his benefits is taxable? How much is Non- Taxable?What amount should be recorded as pension liability on December 31, 2021? a. ₱ 45,000 b. ₱ 25,000 c. ₱ -0- d. ₱ 20,000Your employer pays 70% of your total insurance premium of 8000 per year. How much do you pay as an employee? a. $2,400 b. $6,120 c. $5,600 d. $62 a paycheck