SCENARIO In May of the current year, your employer received a PIER report from...
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SCENARIO In May of the current year, your employer received a PIER report from the CRA that identified Canada Pension Plan CPP contribution deficiencies for employees in the organization who: turned during the year turned during the year had chosen to opt out of paying CPP by submitting a completed CPT form To avoid a recurrence, the Finance Manager, Anita Paul, has asked you, the Payroll Manager, to prepare a summary of the CPP reporting requirements on T information slips. The summary will be used to validate the current payroll setup to ensure that the Ts will be completed properly in future. Provide information on the CPP related boxes that must be completed, including how any amounts are calculated, for employees who: are under for the entire year turn during the year are over for the entire year turn during the year submit a completed CPT form during the year, electing to stop contributing to the Canada Pension Plan submit a completed CPT form during the year, revoking their previous election to stop contributing to the Canada Pension Plan.
SCENARIO
In May of the current year, your employer received a PIER report from the CRA that identified Canada Pension Plan CPP contribution deficiencies for employees in the organization who:
turned during the year
turned during the year
had chosen to opt out of paying CPP by submitting a completed CPT form
To avoid a recurrence, the Finance Manager, Anita Paul, has asked you, the Payroll Manager, to prepare a summary of the CPP reporting requirements on T information slips. The summary will be used to validate the current payroll setup to ensure that the Ts will be completed properly in future. Provide information on the CPP related boxes that must be completed, including how any amounts are calculated, for employees who:
are under for the entire year
turn during the year
are over for the entire year
turn during the year
submit a completed CPT form during the year, electing to stop contributing to the Canada Pension Plan
submit a completed CPT form during the year, revoking their previous election to stop contributing to the Canada Pension Plan.
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