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PY : Canada Deferred Salary Deductions

edited Sep 5, 2020 12:33AM in Payroll and Global Payroll Interface (GPI) 3 comments

Summary

Deduct Deferred Salary amount from employee earnings such that CPP and Income tax is on net salary and EI is on Gross

Content

As per the Deferred Salary Plan - employee prescribes to deduct certain percentage of their earnings as deferred salary to be utilized at a later point of time like during Unpaid long term leaves.

Essentially I need to create one deductions element that will reduce the employee's earnings by a certain percentage (this could very by employee).  Tax and CPP will be taken on the net amount (Salary minus deferred salary deduction), but EI will be taken on the gross.

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