This document outlines the employment terms and annual expenses for three employees hired at different hourly rates and weekly hours. It also provides information on the employer's required contributions for CPP, EI, and HST. Hiring an assistant on a part-time basis through a staffing agency allows small businesses to control labor costs and ensure they only pay for hours actually worked.
During his presentation 'Pension Freedoms' Sam will consider
Building another business.
How to ensure you are in control of your money.
His message will be that you can take money out of your business without liability to any taxes and pop it into a 'pension wrapper'.
During his presentation 'Pension Freedoms' Sam will consider
Building another business.
How to ensure you are in control of your money.
His message will be that you can take money out of your business without liability to any taxes and pop it into a 'pension wrapper'.
Wage and Hour Compliance: Is Your Business Ready for the New Regulations?Suzanne Boy
Tackling wage and hour issues is one of the most challenging (and potentially costly!) legal issues faced by businesses today. As if the usual compliance issues are not enough to keep businesses on their toes, the Department of Labor’s upcoming overhaul of the overtime regulations will impact almost every business in Southwest Florida. In this presentation, we will discuss some of the nuts and bolts of wage and hour compliance, such as exempt/non-exempt classification, off-the-clock work, overtime, and record-keeping; then we will review the DOL’s now-final overtime regulations. Attendees will learn how the proposed regulations can impact their pay practices, along with key actions to implement now to prepare their businesses for the upcoming changes.
Whether you employ 10 or 10,000, the “exempt/non-exempt” overtime rules have always been a perplexing HR problem- a problem that will become more complex with new Regulations from the U.S. Department of Labor. This presentation discussed the new changes going into effect this year, their details and their impacts.
Given at the Construction Financial Management Association on November 15 by Lawrence Feheley, Co-Chair of Kegler Brown's Labor + Employment practice, this presentation efficiently covers important employer information for two significant issues that go into effect very soon - new federal overtime regulations and Ohio's legalized medical marijuana - providing guidance for employers on this significant changes they must adapt to, and the not-so-significant changes that may surprise them.
How to keep and develop the best lawn care technicians Chuck Bowen
Brad Johnson, CEO and founder of Lawn America in Tulsa, Okla., shares his 30-plus years of experience on how to retain and develop the best employees at a lawn care company.
The care industry has been struggling and it is not a secret.
in this slideshow, we show some of the major stumbling blocks that are not being addressed and a solution to them.
Wage and Hour Compliance: Is Your Business Ready for the New Regulations?Suzanne Boy
Tackling wage and hour issues is one of the most challenging (and potentially costly!) legal issues faced by businesses today. As if the usual compliance issues are not enough to keep businesses on their toes, the Department of Labor’s upcoming overhaul of the overtime regulations will impact almost every business in Southwest Florida. In this presentation, we will discuss some of the nuts and bolts of wage and hour compliance, such as exempt/non-exempt classification, off-the-clock work, overtime, and record-keeping; then we will review the DOL’s now-final overtime regulations. Attendees will learn how the proposed regulations can impact their pay practices, along with key actions to implement now to prepare their businesses for the upcoming changes.
Whether you employ 10 or 10,000, the “exempt/non-exempt” overtime rules have always been a perplexing HR problem- a problem that will become more complex with new Regulations from the U.S. Department of Labor. This presentation discussed the new changes going into effect this year, their details and their impacts.
Given at the Construction Financial Management Association on November 15 by Lawrence Feheley, Co-Chair of Kegler Brown's Labor + Employment practice, this presentation efficiently covers important employer information for two significant issues that go into effect very soon - new federal overtime regulations and Ohio's legalized medical marijuana - providing guidance for employers on this significant changes they must adapt to, and the not-so-significant changes that may surprise them.
How to keep and develop the best lawn care technicians Chuck Bowen
Brad Johnson, CEO and founder of Lawn America in Tulsa, Okla., shares his 30-plus years of experience on how to retain and develop the best employees at a lawn care company.
The care industry has been struggling and it is not a secret.
in this slideshow, we show some of the major stumbling blocks that are not being addressed and a solution to them.
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