Overview of Payroll in Canada - Learning Payroll 1
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Country
Canada
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learning hour's
8
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Material Year
2024
Overview
Learning Payroll I provides an introduction to the payroll function. Learn about establishing the employee-employer relationship, hiring a new employee, employment standards requirements, taxable benefits and allowances along with the payroll practitioner's key role in withholding statutory deductions from employment income.
This full-day seminar provides opportunities to ask questions, network with other professionals, and learn from best practice examples. Valuable take home materials include Setting-up A New Payroll Checklist and Learning Payroll I printed material.
The first-step in payroll - Learning Payroll I is ideal for:
- New staff with no or limited exposure to payroll and junior payroll staff
- Practitioners returning to the payroll field
- Other professionals who have functional responsibility for payroll (bookkeepers, accountants, and HR professionals)
- Suppliers providing payroll services to corporate customers.
What will you achieve?
- Identify concepts of the roles and responsibilities of payroll compliance
- Identify whether a worker is an employee or independent contractor
- Describe basic employment standards
- Recognize common taxable benefits and allowances
- Understand the basic concepts of payroll deductions
- Calculate manually to produce a net pay
What will be covered?
Introduction:
- Defining payroll
- Roles and responsibilities
- Earnings and deductions
- Methods of payment
- Controls and security
Employer-Employee Relationship:
- Employee-employer relationship
- Hiring an employee
Employment/Labour Standards:
- Minimum wage
- Pay frequency
- Pay statement
- Hours of work
- Overtime
- Rest periods
- Statutory holidays
- Vacation pay and time
- Leaves
Taxable Benefits and Allowances:
- Accidental death & dismemberment (AD&D)
- Group term life insurance premiums
- Private health care/insurance plan (Quebec only)
- Registered retirement savings plan
- Gift and awards
- Automobile allowance
- Meal allowance (overtime)
- Uniforms and special clothing
Producing a Regular Pay:
- Gross earnings
- Insurable earnings
- Pensionable earnings
- Net Taxable Income
- Statutory deductions
- Calculating the net pay
