Rachel works for Dynamic Collectables in Alberta and earns an annual salary of $41,000.00 paid on a semi-monthly basis. The company provides its employees with group term life insurance coverage of two times annual salary and pays a monthly premium of $0.51 per $1,000.00 of coverage. Rachel uses her car for company business and receives a taxable car allowance of $40.00 per pay. The company has a defined contribution pension plan to which Rachel contributes 2% of her salary each pay.
Each pay Rachel contributes $25.00 to United Way and has $2.00 deducted for her social club membership. She also belongs to the union and pays 5% of her salary in union dues per pay period. Rachel's federal and provincial TD1 claim codes are 3. She will not reach the Canada Pension Plan or Employment Insurance annual maximums this pay period.
Calculate the employee’s net pay, following the order of the steps in the net pay template.
