Payroll contribution rates for 2016

Aceti & Associates - Monday, February 15, 2016

2016 CPP contribution rates, maximums and exemptions:

Maximum annual pensionable earnings $54,900.00

Basic exemption amount   $3,500.00

Employee and employer contribution rate (%)           4.95

Maximum annual employee and employer contribution   $2,544.30


2016 EI premium rates and maximums:

Maximum annual insurable earnings $50,800.00

Rate (%)   1.88

Maximum annual employee premium      $955.04

Maximum annual employer premium   $1,337.06