The Canadian Government has issued a release announcing the Employment Insurance (EI) premium rates and maximums for 2020. The Federal EI premium rates and maximums are as follows, excluding Quebec:
- The annual insurable earnings maximum is increased to CAD 54,200;
- The contribution rate is reduced to 1.58% for employees and 2.212% for employers (1.4 times the employee rate); and
- The maximum annual employee contribution is reduced to CAD 856.36 and the maximum annual employer premium is reduc…