Employment Insurance (EI) premium rates will increase in 2023. In a recent release, the Canada Employment Insurance Commission (CEIC) has announced that the EI premium rate for employees will increase to $1.63 (from $1.58) per $100 of insurable earnings for 2023. The CEIC also advises that the maximum insurable earnings for 2023 will increase to $61,500 (from $60,300), resulting in an annual cash increase in the maximum EI contribution of $49.71 for employees and $69.59 for employers.

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