Ei Insurance For Self Employed
By the same token self employed taxpayers whether they are sole proprietorships or owners of corporations are also not required to pay employment insurance ei premiums.
Ei insurance for self employed. If you are self employed or if you take up self employment activities while you are on ei the work that you do must be so small that you are unable to make a living from it. For more detailed information on ei special benefits for self employed people maternity parental compassionate care and sickness benefits please visit the ei special. Self employed persons can opt out of the ei program at the end of any tax year provided they have never claimed any benefits. 1 78 per 100 of insurable earnings to a maximum 44 200 of insurable earnings 2011.
Unlike with the regular ei program self employed workers do not have to pay the employer s portion of ei premiums. While this ei measure extends certain ei benefits to self employed individuals enrollment is completely voluntary. Employed canadians who pay ei premiums and self employed people who register to participate in the ei program will qualify if they cannot work because of a medical condition have lost at least. This article outlines a few points in hope that it can help you decide whether or not to take part in this special employment insurance program for self employed.
The ei benefits available to the self employed people are limited benefits. Self employed individuals need to have earned a minimum of 6 820 in 2015 of self employed earnings to access the 2016 ei special benefits. As a self employed canadian or permanent resident you can have access to ei special benefits if you register with the canada employment insurance commission. Ei premiums are paid when the self employed worker files his or her t1 income tax and benefit return using schedule 13 employment insurance premiums on self employment and other eligible earnings.
Maternity benefits are for people who are away from work because they re pregnant or have recently given birth up to 15 weeks. A self employed individual also includes anyone who owns 40 of a corporation and usually extends to family members of self employed people. Self employed canadians can access employment insurance ei special benefits by entering into an agreement or registering with the canada employment insurance commission. If you re self employed you can still access ei special benefits.
As a self employed you should be aware of the pros and cons before you opt into it.
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