Lets Get Paid

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Lets Get Paid

• Methods of Payment
• Mini Lesson

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What is this about?

• One of the most important parts of working is
  getting paid for you do. The information in this
  presentation discusses how people employed in the
  workplace get paid.
• Some of the different ways to get paid are
• Paycheque (monthly, weekly, hourly)
• Commissions
• Piecework
• Contracts

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Introduction
If you are paid by the hour, day, or month you
are most likely earning a wage. Most often the
amount you are paid depends on the number of
hours that you work. A salary is similar to a
wage but is not necessarily tied to the number of
hours worked. For example a teacher is paid a
certain amount of money for a years work. This
amount is divided into equal amounts that are
paid each month. The amount of hours they work
has nothing to do with the paycheque they receive.
Some occupations may get paid using both methods
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Pay Periods
A payroll period determines how often you are
paid for your work. The most frequently used
payroll periods are shown below.

• Other ways to get paid
• You might get paid by receiving a percentage of
  the sales you have in a specific period.
• Sometimes you will get paid by the job In
  this case you would get paid after you are
  finished the job. In these cases you may get paid
  in blocks as you complete a certain portion of
  the required work.

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Regular Paycheques

• No matter what job you do or what type of pay
  period you have all employees receive a regular
  paycheque. Employers must make sure that all
  their employees are paid on time.
• The first step in calculating a paycheque is to
  determine the gross pay. This is the total amount
  of pay an employee has made before anything is
  taken off the cheque.
• There are a number of deductions that employers
  are required to make on the workers behalf. These
  deductions vary from workplace to workplace. The
  average worker is deducted for the following
• Income Tax, Canadian Pension Plan (CPP),
  Employment Insurance (EI)
• Other deductions Union fees, Health and Life
  Insurance, Pension plans
• The pay an employee receives after all deductions
  have been made is called the net pay. Net pay is
  also referred to as take-home pay.

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Commission and Tips
If a salesperson is paid a certain portion of the
money received from the sales, he / she is said
to be earning a commission. Many salespeople earn
both a salary and a commission, but if the
salesperson earns only a commission, he/she is
said to be earning straight commission.
Sometimes the salesperson will receive a
graduated or step commission. In a graduated
commission, the rate of commission changes with
the amount of sales. Usually as the sales volume
increases, the salesperson receives a larger
commission. This acts as an incentive to the
salesperson to achieve maximum sales. A tip is
a reward received for superior service. The
prospect of receiving a tip, like a commission,
is an incentive to do the worker to do his / her
best.
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Piecework
Often in a manufacturing plant an employee will
be paid for each item that he/she produces. This
is known as piecework. The more pieces produced
the greater the pay. This encourages the employee
to not "goof off" on the job. Tree planting is
another example of a type of job where the amount
of pay you receive is based on the amount of
trees planted. The amount paid varies from place
to place, but it is usually about 18 20 cents
per tree. .
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Fees
In many sectors of employment a fee for service
is charged. A dentist may charges a fee for each
of the different procedures performed. A cable
company charges a fee to connect your television
or your computer to the cable network. You might
decide that you can pick up some spare money by
charging a fee for for cutting peoples grass in
the summer or shovelling snow from driveways in
the winter. Suppose you charge a 10.00 fee for
cutting the grass in an average size yard. How
many jobs would you have to do to buy yourself a
video game that costs 250.00? Answer 250.00 /
10.00 25 You would have to cut the grass in 25
yards to earn enough to buy the video game.
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Overtime Pay
Workers who a paid an hourly wage may be entitled
to earn more pay by working extra hours. A normal
work week is usually considered to be 40 hours.
If you are required to work more than 40 hours
you will likely receive overtime pay. Your
overtime hourly rate of pay is usually 1.5 times
your regular hourly rate and is often referred to
as time-and-a-half. If you are required to work
on a holiday such as Christmas day or Canada Day,
you may receive double-time. This means your
regular hourly wage would be multiplied by
two. Every workplace has a different way of
compensating workers who do overtime work. In
some jobs you do not get extra pay, but you can
earn extra days off the job. These are sometimes
called earned days off or EDOs.
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Vacation Pay
In many types of jobs workers earn a certain
amount of holiday time based on the amount of
time that they work. This amount is calculated by
multiplying the amount of your gross pay by a
pre-determined percentage rate. Vacation pay
makes it possible for workers to take some time
off work without losing their paycheque will they
are away from the workplace. There are some jobs
where you do not get vacation pay. Teaching is
one of these. A teacher gets paid for working so
many days in a year. They do not get paid for the
days they do not work. Try this Vacation Pay
Calculator
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Find Out More
To find out more about different occupations and
the average amount of pay that you can expect, go
to SaskJobFutures http//www.saskjobfutures.ca/
To find out more about getting paid, go
to Canada Revenue Agency http//www.cra-arc.gc.
ca/