Answered: Which of the following payments will be…

Business

Accounting

Which of the following payments will be subject to Canada Pension Plan contributions?

PAYROLL ACCT.,2019 ED.(LL)-TEXT

19th Edition

ISBN:9781337619783

Author:BIEG

Publisher:BIEG

Chapter5: Unemployment Compensation Taxes

Section: Chapter Questions

Problem 6QR

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Concept explainers

Employee Benefits

In an organization employees are the most important resource and most important asset. They can lead an organization to the sky or can be the reason for unsuccessful of business. Therefore, it is very much important that employees of an organization should be satisfied by the environment of the organization and most importantly with the salary, wages incentives, etc.

Question

Which of the following payments will be subject to Canada Pension Plan contributions? A lump sum payment of accumulated sick leave credits owing to a deceased employee A lump sum payment to an injured employee to cover living expenses while waiting for Workers' Compensation benefits A lump sum severance payment paid with an employee's final pay A lump sum death benefit payment to an employee's surviving spouse

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Accounting for Employee Compensations and Benefits

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