| A | B |
|---|
| Employment Standards Act | Ensure that workers receive at least minimum standards of wages and terms of employment. |
| Social Insurance Number | Used to record CPP, EI, etc. contributions. Reduce errors due to similarities in names. |
| Overtime | Hours worked beyond 8 hours per day, or 40 hours per week. |
| Statement of Earnings | Lists the employees gross pay, all deductions, and net pay. |
| Employee | A person working for another in return for financial or other reimbursement. |
| Employer | A person that hires people for wages or a salary. |
| Payroll | A list of the employees and the amount of money each should be paid. |
| Gross Pay | Total earnings of an employee before deductions. |
| Net Pay | Gross pay minus deductions. |
| Deductions | Amounts deducted from the employees gross pay. |
| Compulsory Deductions | These deductions apply to all workers. |
| Voluntary Deductions | Amounts deducted from the workers pay at the request of the employee. |
| RRP | Registered Pension Plans |
| RRSP | Registered Retirement Savings Plan |
| Extended Insurance | Private insurance, dental, life, legal, long-term disabilitiy, and salary continuation plans. |
| Canada Pension Plan | The amount of the contribution is 2.4% of the employee's salary. |
| Employment Insurance | Designed to provide income to those workers who become unemployed through no fault of their own. |
| Income Tax | This amount is found by locating the taxable income and the net claim code on the tax deduction table. |
| Taxable Income | Gross pay - (RPP Contributions + Union Dues + etc.) |
| Net Claim Code | The employee lists all personal tax credits to arrive at a net claim code. |
| TD1 Form | Personal Tax Credit return |
| Pay Periods | How frequently employees are paid. |
| Salary | The employee is paid a set amount each pay period. |
| Hourly Rate | The employee is paid a set amount for each hour. |
| Commission | The employee is paid a percentage of their sales. |
| Piece Rate | The employee is paid for each item produced. |
