An employee receives a quarterly bonus of $15,500.00 paid separately from her regular earnings. Calculate the...
An employee receives a quarterly bonus of $15,500.00 paid separately from her regular
earnings. Calculate the Québec Pension Plan contribution to deduct from this payment
assuming she has already been deducted $555.00 in contributions year-to-date
Homework Answers
In 2020, the contribution rate for the Québec Pension Plan is 10.80%. That rate is split equally between the employer and the employee, and applies to earnings between the $3500 general exemption and $58 700, which is the maximum amount on which employees can contribute in 2020
Amount to be deducted from every quarterly bonus = 5.4% of $ 15,500
= $ 837
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