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| Deducting Employment Insurance Premiums
Employment Insurance (EI) used to be called Unemployment Insurance (UI). It is a federally administered insurance program that gives financial assistance to people who are unemployed. It also helps people get training for jobs. As an employer, you are responsible for deducting EI premiums from your employees' paycheques. To deduct EI contributions, consult Canada Revenue Agency’s Payroll Deductions Tables . These tables tell you how much EI to deduct from your employees' paycheques, depending on their salary.
The rates for EI premiums may vary from year to year. Each edition of the Payroll Tables gives information on current rates. Make sure you have an up to date edition.
Remember, you must also make your own contributions to EI on behalf of your employee. Generally, the employer's contribution is $1.40 for every $1 of the employee’s contribution.
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