Canada Employment Insurance Contribution Rates and Maximums for 2020

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…