Employment Insurance Premium Rates for 2024
- Posted:
The Canada Employment Insurance Commission (“CEIC”) has announced that the EI premium rates for 2024 will increase from 2023.
The EI premiums for employees will be increased to $1.66 for every $100 of earnings in 2024, up from $1.63 in 2023. In addition, the employer rate will be increased to $2.32 for every $100 of earnings, up from $2.28 in 2023.
The EI premium rates for Quebec will be increased to $1.32 for employees and $1.85 for employers for 2024, up from $1.27 and $1.78, respectively, for 2023. These rates are lower than in the rest of Canada because Quebec offers its own parental insurance benefits.
The maximum yearly employee premium, not including Quebec, is $1,049.12 for 2024 ($1,002.45 – 2023), while the maximum annual employer premium, not including Quebec, is $1,468.77 ($1,403.43 – 2023).
The maximum insurable earnings will increase to $63,200 in 2024 from $61,500 in 2023.