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PAYROLL COMPLIANCE LEGISLATION
COURSE MIDTERM EXAM WITH 100%
VERIFIED QUESTIONS
Objective of the Payroll Function - correct-answer-Pay employees accurately and
on time, in compliance with legislative requirements for a full annual payroll cycle
Payroll definition - correct-answer-is the process of paying employees in exchange
for the services they perform.
4 Possible Meanings of Payroll - correct-answer-1. The department that
administers the payroll
2. The total number of people employed by an organization
3. The wages and salaries paid out in a year
4. A list of persons to be paid and the amount due to each
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Canada Pension Plan (CPP) definition & rate - correct-answer-is a social insurance
program legislated under the federal Canada Pension Plan Act, designed to
provide protection in the form of benefits to contributors and their families
against loss of income due to retirement, disability, and death
Employer must match employee's amounts
Employment Insurance (EI) program.... & rate - correct-answer-is associated with
the collection of employee and employer premiums
Ø The employer's portion is 1.4 times the employee's portion unless the employer
qualifies for a lower rate under the EI premium reduction program.
If an organization fails to deduct and remit the amounts withheld from employees
for CPP contributions, EI premiums and income tax... - correct-answer-it may be
left in the position of paying both the employee's and employer's portion and will
be subject to penalties and interest charges on the outstanding amount.
Employment and Social Development Canada (ESDC) - correct-answer-A
department of the Government of Canada committed to building a stronger and
more competitive Canada by supporting Canadians in making choices that help
them live productive and rewarding lives and to improve their quality of life
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3 purposes of ESDC - correct-answer-- develops policies that make Canada a
society in which Canadians can use their talents, skills and resources to thrive in
the competitive market and contribute to their well-being
- creates programs and support initiatives that help Canadians invest in
themselves to move through life's transitions—from families with children to
seniors, from school to work, from one job to another, from unemployment to
employment, from the workforce to retirement
- creates better outcomes for Canadians through service excellence with Service
Canada and other partners
ESDC programs (6) - correct-answer-· Canada Pension Plan and Old Age Security
· Employment Insurance
· Employment Programs
· Youth Employment Strategies
· Canada Education Savings Program
· Canada Student Loans and Grants
EI may also provide: (4) - correct-answer-- sick benefits
- maternity and/or paternity benefits
- critically ill or injured person benefits
- compassionate care benefits
PAYROLL COMPLIANCE LEGISLATION
COURSE MIDTERM EXAM WITH 100%
VERIFIED QUESTIONS
Objective of the Payroll Function - correct-answer-Pay employees accurately and
on time, in compliance with legislative requirements for a full annual payroll cycle
Payroll definition - correct-answer-is the process of paying employees in exchange
for the services they perform.
4 Possible Meanings of Payroll - correct-answer-1. The department that
administers the payroll
2. The total number of people employed by an organization
3. The wages and salaries paid out in a year
4. A list of persons to be paid and the amount due to each
,2|Page
Canada Pension Plan (CPP) definition & rate - correct-answer-is a social insurance
program legislated under the federal Canada Pension Plan Act, designed to
provide protection in the form of benefits to contributors and their families
against loss of income due to retirement, disability, and death
Employer must match employee's amounts
Employment Insurance (EI) program.... & rate - correct-answer-is associated with
the collection of employee and employer premiums
Ø The employer's portion is 1.4 times the employee's portion unless the employer
qualifies for a lower rate under the EI premium reduction program.
If an organization fails to deduct and remit the amounts withheld from employees
for CPP contributions, EI premiums and income tax... - correct-answer-it may be
left in the position of paying both the employee's and employer's portion and will
be subject to penalties and interest charges on the outstanding amount.
Employment and Social Development Canada (ESDC) - correct-answer-A
department of the Government of Canada committed to building a stronger and
more competitive Canada by supporting Canadians in making choices that help
them live productive and rewarding lives and to improve their quality of life
, 3|Page
3 purposes of ESDC - correct-answer-- develops policies that make Canada a
society in which Canadians can use their talents, skills and resources to thrive in
the competitive market and contribute to their well-being
- creates programs and support initiatives that help Canadians invest in
themselves to move through life's transitions—from families with children to
seniors, from school to work, from one job to another, from unemployment to
employment, from the workforce to retirement
- creates better outcomes for Canadians through service excellence with Service
Canada and other partners
ESDC programs (6) - correct-answer-· Canada Pension Plan and Old Age Security
· Employment Insurance
· Employment Programs
· Youth Employment Strategies
· Canada Education Savings Program
· Canada Student Loans and Grants
EI may also provide: (4) - correct-answer-- sick benefits
- maternity and/or paternity benefits
- critically ill or injured person benefits
- compassionate care benefits
