The federal government has announced the amount of Employment Insurance (EI) premiums which will be payable by employees and employers during the 2023 calendar year.
The 2023 EI premium rate is $1.63 per $100 of insurable earnings for employees. The premium rate for employers is 1.4 times the employee rate and, consequently, the employer premium rate for 2023 will be $2.28 per $100 of insurable earnings.
The announcement of the EI premium rates for 2023 can be found on the federal government website at https://www.canada.ca/en/employment-social-development/programs/ei/ei-list/reports/premium/rates2023.html#h2.4.
If you would like to know more about payroll deductions or need help with tax projections, please feel free to call us at (905) 305-9722 or email us at info@eigenmachtcrackower.com and we will help you out!
