Chapter 3 Ei Flashcards
What are the requirements For contributing to EI premiums
- No minimum age requirement for earnings to be insurable
2. Age 65 or 70 years Are not exempt
Why do we have EI premiums
To replace part of earnings lost by a person during the period of unemployment
Would you ever use proration when calculating EI contribution or overpayment
No amount should ever be prorated when calculating EI contributions or overpayment
What are the maximum EI insurable earnings
$45,900
What is the maximum premium outside of Quebec
$839.97
What is the quebec maximum EI
$674.73
What is the Ei Employees contribution percent
1.73%
What is the employers EI premium percent
1.4 x whatever the employee contributes
If all earnings are exempt for the entire reporting period, A check mark should be found where for EI portion
There should be of a tick in box 28
Box 18 and 24 would be blank
On schedule one where is EI reported what line
Line 312 of schedule 1
How do EI underpayments happen
When the employer makes a calculation error
The reason why Ei under payments are very rare is because
Regardless of the number of employers it will always be 1.83% of insurable earnings there is no basic exemption
If there is an EIunderpayment what does the employee have to do
The employee does not have to make up the difference but The actual premiums deducted are found on line 312
How do EI overpayments happen
When an employee works for more than one employer
Why do EI over payments happen
Because the combined insurable earnings exceed The maximum
