The Canada Employment Insurance Commission has announced the premium rates and limits which will apply for purposes of the Employment Insurance program during the 2024 calendar year.

For 2024, as a result of indexation, maximum insurable earnings will increase to $63,200. The premium rate will be $1.66 per $100 of insurable earnings, meaning that the maximum employee premium for the year will be $1,049.12. Maximum premiums payable by employers (who pay 1.4 times the employee rate) are set at $1,468.77 per employee for 2024.

The announcement of the premium rates and maximum insurable earnings for 2024 can be found on the federal government website at https://www.canada.ca/en/employment-social-development/news/2023/09/canada-employment-insurance-commission-confirms-2024-employment-insurance-premium-rate.html