Self-Employed with Employees 2023   To get “perfect” I require the


Self-Employed with Employees

To get “perfect” I require the correct calculations
and the Correct employee Paycheque amounts.
Calculate Employee Bi-Weekly Paycheque amounts (5 employees).
Note: Emp#1 $19hr (44hrs per week)

Emp#2 $24hr (42hrs per week)

Emp#3 $31hr (40hrs per week) 

Emp#4 $33hr (37hrs per week) 

Emp#5 $41hr (30 hrs per week).

Please help me. Please follow the example below. Thank you. 

Getting to the correct Paycheque amount……
Bi-weekly (means employees are paid every two weeks)
 Vacation Pay (4% minimum)
 CPP: (5.95%)
 EI: (1.63%)
 Federal Tax
 Provincial Tax
 Employee Paycheque amount: ????

EXAMPLE Paid $500 week (Bi-Weekly)
$1000 + 4% Vacation Pay = $1040
Minus CPP (5.95%) = $61.88 Minus EI (1.63%) = $16.95 Minus
Federal Tax ($137.10) Minus Ontario Tax ($60.70)
Equals a paycheque amount of $763.37

It’s that simple.Pay only when you are satisfied.

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