2020 Payroll Deduction Table for Prince Edward Island

Employment Insurance

Maximum insurable earnings: $54,200
Maximum employee premium: $856.36
Maximum employer premium: $1,198.90 

Employee: 1.58
Employer: 1.58 x 1.4 = 2.21%

Some employees related to the employer may be exempt from paying Employment insurance – please read our article to learn more.

CPP

Maximum pensionable earnings: $58,700
Basic exemption: $3,500
Maximum employee premium: $2,898.00
Maximum employer premium: $2,898.00

Self-employed maximum premium: $5,796.00

Employer and employee contribution rate: 5.25%

Self-employed: 10.5%

Federal & Provincial income tax

Basic deduction:

Federal:

• $150,473 or less enter $13,229
• More than $214,368 enter $12,298
• Between $150,473 and $214,368 either:
  • get form TD1-WS and calculate partial claim; or
  • Enter $12,298

Provincial: $10,000

Worker's Compensation

Maximum insurable: $55,300 per person

Based on classification

Information on the employer surplus is available.

As of April 1, 2019: $12.25

As of April 1, 2020: $12.85