2022 Employment Insurance Maximum Insurable Earnings

The Employment Insurance (EI) premiums for 2022 have been increased to $952.74 (2021 - $889.54) for employees, and $1,333.84 (2021 - $1,245.36) for employers. Contributors who earn more than $60,300 in 2022 are not required or permitted to make additional contributions to EI. The increase in premium from 2021 will cost an additional amount to a maximum of $63.20 for an employee and $88.48 (per employee) for an employer.

Below is the comparison from 2020 to 2022:

2022

2021

2020

Maximum Pensionable Earnings

$60,300.00

$56,300.00

$54,200.00

Basic Exemption

-

-

-

EMPLOYER CONTRIBUTION

Maximum employer contribution

$ 1,333.84

$ 1,245.36

$ 1,198.90

Contribution rate

2.212%

2.212%

2.212%

EMPLOYEE CONTRIBUTION

Maximum employee contribution

$ 952.74

$ 889.54

$ 856.36

Contribution rate

1.58%

1.58%

1.58%

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 a 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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2022 Canada Pension Plan Maximum Pensionable Earnings