The employer is required to remit employment insurance contributions equal to the amount withheld from all employees.
True / False
False
Income tax, employment insurance and Canada Pension Plan amounts withheld plus the employer's portion of EI and CPP are paid directly to Revenue Canada.
True / False
False
In 2000, CPP contributions are based on earnings, and applies with few exceptions to everyone who is working.
True / False
True
Employers commonly operate under contracts with their employee's union that provide better terms than the employer would otherwise offer.
True / False
True
Regular pay plus overtime premium pay is the employee's net pay.
True / False
False
An employee's Individual Earnings Record provides a monthly summary of the employee's working time, gross earnings, deductions, and net pay.
True / False
False
Under the provincial workers' compensation acts, employers may insure their employees against injury disability that may arise as a result of employment.
True / False
False
Employers are required to allow their employees paid vacation time as a benefit of employment.
True / False
True
Accrued wages and accrued deductions on the wages are always recorded at the end of an accounting period.
True / False
False
Every employee and self-employed person between the ages of 18 and 70 must make contributions in required amounts to the _______________.
CANADA PENSION PLAN
The card each employee takes from a rack and places in a slot in the time clock is called a _______________.
CLOCK CARD
Employees’ medical insurance, life insurance, and disability insurance examples of _______________.
EMPLOYEE FRINGE BENEFITS
Statement 4 Regular pay, plus overtime premium is the _______________.
EMPLOYEE’s GROSS PAY
A business with many employees will often use a special _______________ to pay its employees.
PAYROLL BANK ACCOUNT
To alleviate hardships caused through unemployment, compulsory _______________ was extended to all Canadian workers who are not self-employed.
EMPLOYMENT INSURANCE
An _______________ provides for each employee a full year’s summary of the employees working time, gross earnings, deductions, and net pay.
EMPLOYEE’s INDIVIDUAL EARNINGS RECORD
The amount of income taxes to be withheld from an employee’s wages is determined by his or her wages and the amount of _______________.
PERSONAL TAX CREDITS
An employee’s gross pay less total deductions is the _______________.
EMPLOYEE’s NET PAY
Employers may use _______________ in determining Canada Pension Plan and employment insurance to be withheld from employee’s gross earnings.
WAGE BRACKET WITHHOLDING TABLES
