EI contributions reduced for 2001

Employers stand to save $82 per employee
|hrreporter.com|Last Updated: 04/07/2003

With a healthy economy and a surplus to play with, the federal government has decided to cut contribution rates to employment insurance, saving employers as much as $82 per employee in 2001.

Employers will continue to pay 1.4 times the employee rate, but the employee rate will drop $0.15 from $2.40 to $2.25.

In other words, employers will be paying $3.15 per $100 of insurable employee earnings down from $3.36 in 2000, with the maximum insurable income remaining the same at $39,000.