In 2023,the EI tax rate is 1.63% to a maximum deduction of 1002.45

Name: In 2023,the EI Tax Rate Is 1.63% to a Maximum Deduction of 1002.45
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Question

Answer 1

### $61499.39

Answer 2

## Step 1: Calculate the maximum annual insurable earnings.### The maximum EI deduction is

1.63\%

Maximum\ Earnings \times EI\ Rate = Maximum\ Deduction

x \times 0.0163 = 1002.45

x = \frac{1002.45}{0.0163}

x = \frac{1002.45}{0.0163} \approx 61499.3865$

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