Part IPublic NoticeVolume 157, Number 40Published: October 7, 2023
2024 Employment Insurance Premium Rates
Canada Gazette, Part I, Volume 157, Number 40: GOVERNMENT NOTICES
The Canada Employment Insurance Commission set the Employment Insurance premium rate for 2024 at $1.66 per $100 of insurable earnings. Residents of Quebec covered by the Quebec Parental Insurance Plan receive a $0.34 reduction, resulting in a Quebec rate of $1.32 per $100; these rates determine payroll deductions for employees and employer accounting in 2024.
- Published
- October 7, 2023
- Department
- Canada Employment Insurance Commission
- Section
- DEPARTMENT OF EMPLOYMENT AND SOCIAL DEVELOPMENT
- Comment deadline
- Unavailable
- Effective date
- Unavailable
- Publication part
- Part I
Summary
Summary#
The Canada Employment Insurance Commission set the Employment Insurance premium rates for 2024. The standard premium is $1.66 per $100 of insurable earnings, and residents of Quebec covered by the Quebec Parental Insurance Plan pay a reduced rate of $1.32 per $100 because of a $0.34 reduction.
What it does#
- Announces the Employment Insurance premium rate for 2024 under the Employment Insurance Act: $1.66 per $100 of insurable earnings.
- Announces the premium reduction for Quebec residents covered by the Quebec Parental Insurance Plan under the Employment Insurance Regulations: $0.34, which lowers the Quebec rate to $1.32 per $100 of insurable earnings.
- These figures are the official rates the commission published for use in the 2024 year.
Who's affected#
- People who pay Employment Insurance premiums through payroll deductions because they have insurable earnings.
- Employers and payroll administrators who withhold or account for EI premiums.
- Specifically, residents of Quebec who are covered by the Quebec Parental Insurance Plan, who will see the lower $1.32 per $100 rate.
Why it matters#
- These rates determine how much is taken from paycheques (and factored into payroll costs) for Employment Insurance in 2024.
- The Quebec reduction means eligible Quebec workers will pay less into federal EI than workers in other provinces.
Key topics
Employment Insurance ActEmployment Insurance RegulationsCanada Employment Insurance CommissionDepartment of Employment and Social DevelopmentQuebec Parental Insurance PlanEmployment insurance premium rate$1.66 per $100$1.32 per $100$0.34 reductioninsurable earningspayroll deductionspayroll administratorsemployersemployeesemployment insurance
Source: Canada Gazette