EI Premium rate set at 1.58% of insurable earnings, up to $56,300 in 2021 (from $54,200)
Employment Insurance (EI) premium rates will hold steady in 2021 and 2022. The Government of Canada has confirmed that it will temporarily freeze the federal EI premium rates for 2021 and 2022 at current levels as a result of COVID-19. Therefore, EI premium rates for employees will remain at $1.58 per $100 of insurable earnings in 2021 and 2022. However, the maximum insurable earnings for 2021 will increase to $56,300 (from $54,200) resulting in an annual cash increase in the EI contribution for employees of $ 33.18 and $ 46.76 for employers.
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Information is current to September 29, 2020. The information contained in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's National Tax Centre at 416.777.8500
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