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The Employment Insurance premium rate for 2020 is decreased to 1.58%.
Yearly maximum insurable earnings are set at $54,200, making the maximum employee premium $856.36.
As in previous years, employer premiums are 1.4 times the employee contribution. The maximum employer premium for 2020 is therefore $1,198.90.
The information presented is only of a general nature, may omit many details and special rules, is current only as of its published date, and accordingly cannot be regarded as legal or tax advice. Please contact our office for more information on this subject and how it pertains to your specific tax or financial situation.