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2021 Payroll Deduction Table for Prince Edward Island

The new year has started which means making updates to payroll deductions. To help you out, we’ve prepared a summary chart including all the 2021 rates for CPP, EI, taxes and more.

Deduction

Rate

Employment Insurance

Maximum insurable earnings: $56,300
Maximum employee premium: $889.54
Maximum employer premium: $1,245.36

 

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: $61,600
Basic exemption: $3,500
Maximum employee premium: $3,166.45
Maximum employer premium: $3,166.45

Self-employed maximum premium: $6,332.90

Employer and employee contribution rate: 5.45%

Self-employed: 10.9%

Federal & Provincial income tax

 

Basic deduction:

Federal:

  • $151,978 or less enter $13,808
  • More than $216,511 enter $12,421
  • Between $151,978 and $216,511 either:
    • get form TD1-WS and calculate partial claim; or
    • Enter $12,421

Provincial: $10,500

Worker's Compensation

Maximum insurable: $55,300 per person

Based on classification

Information on the employer surplus is available.

Minimum wage

As of April 1, 2020: $12.85

As of April 1, 2021: $13.00

 

If you have questions about payroll deductions please contact Business Resources at 1 888 234-2232 or a[email protected]