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2019 Employment Insurance (EI) Maximum Insurable Earnings

| January 28, 2019

The Canada Revenue Agency announced the maximum insurable earnings and Employment Insurance (EI) premiums for 2019 on September 13, 2018. This year the rate has been decreased to 1.62% for employees, and 2.268% (1.4 times of 1.62%) for employers. Contributors who earn more than $53,100 in 2019 are not required or permitted to make additional contributions to EI.

Below is the comparison:

2019 2018 2017 2016 2015
Maximum Insurable Earnings $53,100 $51,700 $51,300 $50,800 $49,500
Basic Exemption Nil Nil Nil Nil Nil

EMPLOYER CONTRIBUTION

Maximum employer contribution $1,204.31 $1,201.51 $1,170.67 $1,337.06 $1,302.84
Contribution rate 2.268% 2.324% 2.282% 2.632% 2.632%

EMPLOYEE CONTRIBUTION

Maximum employee contribution $860.22 $858.22 $836.19 $955.40 $930.60
Contribution rate 1.62% 1.66% 1.63% 1.88% 1.88%

Please note that this applies to each job. For example, during the year, if you switch employers, each employer will deduct the EI premium without considering the amount of EI premiums paid with the previous employer. The employee will receive the refund of any over-payments when income tax and benefit return is filed with the Canada Revenue Agency.

(This posting is for personal educational purposes only. Please consult your tax advisor for your specific situation).

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