Did you know that CPP rates are increasing from 5.1% to 5.25% in 2020. That means an employee earning $58,700 or more per year will pay $2898.00 in CPP. That is an increase of $149.10 over last year. However, EI rates will decrease so that an employee earning $54,200 or more per year will pay $3.86 less.
For further information, contact your payroll professional!
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