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

## Step 1: Calculate the maximum annual insurable earnings.<br /><br />### The maximum EI deduction is $1002.45 and the EI tax rate is $1.63\%$. We can set up the equation: $Maximum\ Earnings \times EI\ Rate = Maximum\ Deduction$. Let 'x' represent the maximum earnings. So, $x \times 0.0163 = 1002.45$. Solving for x, we get $x = \frac{1002.45}{0.0163}$.<br /><br />## Step 2: Calculate the value of x.<br /><br />### $x = \frac{1002.45}{0.0163} \approx 61499.3865$