1. EMPLOYMENT TERMS
Hired Employee CHECKSBS Hired Employee CHECKSBS Hired Employee CHECKSBS
HourlyRate $12.50 $20.00 $12.50 $20.00 12.50 $20.00
HoursPerWeek 30 15 20 10 15 7.5
WeeksPerYear 50 48 50 48 50 48
GrossAnnualSalary $18,750 $14,500 $12,500 $9,600 $9,375 $4,500
CONTRIBUTIONS & REMITTANCES
Annual Employee
CPP Contributions $459.38 $0 $306.25 $0 $229.69 $0
Annual Employee
EI Contributions $176.25 $0 $117.50 $0 $88.13 $0
Employee Income
Taxes $2,812.50 $0 $1,875 $0 $1,406.25 $0
Annual EMPLOYER
CPP Remittance $459.38 $0 $306.25 $0 $229.69 $0
Annual EMPLOYER
EI Remittance $176.25 $0 $117.50 $0 $88.13 $0
HST $0 $1,872 $0 $1,248 $0 $585
SAVINGS
Annual Savings $3,113.63 $3,152.732 $5,415.55
Monthly Savings $259.47 $262.73 $451.30
ANNUAL EXPENSES
TOTAL Annual
Salary Expense $19,385.63 $16,272 $14,000.73 $10,848.00 $10,500.55 $5,085
TOTAL Monthly
Salary Expense $1,615.47 $1,356.00 $1,166.73 $904 $875.05 $423.75
Net Annual Salary $15,301.88 $14,400 $12,923.75 $9,6500 $9,692.81 $4,500
EMPLOYER Annual
Remittances $635.63 $1,872 $1,076.98 $1,248 $807.73 $585
If a small business only requires minimal administrative
support they might consider hiring an assistant on a part
time basis.
Many employee's would want a guaranteed number of
hours to work during the week. Typically part time hours
are from 15 to 30 hours per week.
Finding an employee who is satisfied with the number of
hours you are proposing may be difficult.
This can prove to have an impact on the quality and
performance standards of work from your employee. If
they are unhappy that they are not receiving enough hours
with a competitive salary, your business may encounter
problems with retaining a dedicated employee.
There may or may not be a sufficient amount of work for
your employee, and you may find that you are paying a
salary even if there is no work to be done.
You will also need to provide vacation and sick days, or
increase your salary payable in lieu of not providing paid
vacation/sick days.
Furthermore, above and beyond the added salary expense
you are required to pay an additional 1.4% in EI contribu-
tions as well as 4.95% in CPP contributions.
Hiring CHECKSBS provides you with the ability to control
how many hours you truly need someone to assist you!
Contact CHECKSBS Today!
Mobile: 705.491.5995 / Email: checksbs@gmail.com / Web: www.checksbs.ca