Dear All,
I am new to this forum and have gone thru various topics and I really appreciate time taken by all members to answer queries of new comers.
I will be highly appreciate answer/help on following queries.
I will be traveling to Markham (Ontario) on an assignment for 2 years along with the family (wife & kid). I am offered total salary of 58.5 K per year. So I would like to know:
- if this salary is comparable with in the industry? I will be working as Project Manager in a IT company (got 8+ years of IT exp)
- Approximately how much will be total taxes?
- After 2 years, can I get the amount deducted for EI and CPP?
- What will be monthly expenses including food, travelling, rented accommodation (1 BHK), misc expenses? I am pure vegetarian and will use local transportation for traveling
Thanks in advance and waiting for your early reply as I have to give decision on this offer.
Regards,
Guru
Guru,
You have not wriiten the company that you were working in before, your qualification or your technology. In Canada, Any tom , Dick or Harry can be the PM in an IT compnay. Also you have not mentioned if you are coming as an Immigrant or on Work permit. But I assume that you are coming on work permit.
Your salary is a good one, if you have been in a small company in India and were earning about Rs. 25,000 a month. You will be getting a take home pay of around $3000 a month (after taxes and EI, CPP). It is a decent salary to live minimally with a car and even a mortgage. You canot get your EI and CPP contributions back and CPP will be paid to you by the govt. monthly after you reach the age of 60
Your expenses will be as follows (bare minimum) :
Rent - $800 or $700 in basement
Phone- $100
Car- Insurance $200 Gas $150 or Markham transit around $100 a month for monthly pass or $2.75 a ride. Note that if yo uwant to come to Toronto, then you have to pay 2 fares.
Groceries : $300-$400
Schools are free for education.
Your wife can get an open work permit and work on some small time jobs which can give her $8.50 to $10 an hour (unqualified) and more if she is qulaified to do some office work.
All the best in your endeavours.
TK A
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I am a Gents and not a Ladies.
Hi, TK has given you a very good reply on it. One question to all CD's, is it mandatory to be a part of CPP if one is on work permit. Ask if your co. can pay something in cash in lieu of CPP. I'm not sure if it'll be legally allowed but it doesn't make sense if someone is on work permit for two years and pays CPP which they get back at the age of 60. Check on this point from someone.
Jona
Well not getting into the details, but on an outset, I think that the salary mentioned is not too promising considering what an IT person can earn here especially if you have some North American projects to back you up!
just my 2 cents
Thx
B
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Bombay State of mind
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I agree with B, it depends a lot on your current situation, if you are earning more than 1 lac in India, don't take this money offer but as TK said if you are working in around 25000-40000 Rs and think you'll be able to save something in Canada in two years then may be. If possible ask the co. to pay you a home trip (India) once a year or at least once in these two years. The traveling can take a big chunk of savings.
Jona
Quote:
Originally posted by tamilkuravan
I assume that you are coming on work permit.
Schools are free for education.
TK A
Quote:
Originally posted by jonav
I agree with B, it depends a lot on your current situation, if you are earning more than 1 lac in India, don't take this money offer but as TK said if you are working in around 25000-40000 Rs and think you'll be able to save something in Canada in two years then may be. If possible ask the co. to pay you a home trip (India) once a year or at least once in these two years. The traveling can take a big chunk of savings.
Jona
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