When you initialize Employee Totals, Avanti will automatically adjust the regular EI rates. Be sure to verify that the new rates are correct as part of the year-end process.
If you have an EI Group with a reduced rate, the rate and maximum earnings will not be changed during Initialize Employee Totals. Please be sure to adjust these EI groups to the 2024 maximum earnings and the new reduced rate.
Important Information
This should only be done after Initialize Employee Totals is completed.
How to Verify New EI rates and Update Reduced Rates
Step 1: Open EI Groups in the Avanti Desktop Application.
By default, this can be found in Canadian Payroll >> Taxation & Assessment Tables.
Step 2: Confirm Max Earn Per Year, Employee Rate, and Employer Factor are correct for each EI Group.
| 2024 Federal EI | 2024 Quebec EI |
|---|---|---|
Max Earn Per year | $63,200 | $63,200 |
Employee Rate | 1.66% | 1.32% |
Employer Factor | 1.4 | 1.4 |
If correct, select Exit to close EI Groups. The 2024 rates are verified and updated! The next step in the year-end process is Verifying CPP and QPP Rates.
Step 3: If an EI Group has the wrong values, select the group then select Modify.
Step 4: Adjust the Max Earn/Year and Employer Factor to the correct value.
Step 5: Select OK to save your changes.
Step 6: Repeat Steps 3 to 5 for each EI Group with incorrect rates.
Step 7: Select Exit to close EI Groups.
Nice work! The 2024 Federal EI rates are verified and updated! The next step in your year-end process is Verifying CPP and QPP Rates.