Cpp and Ei Calculator 2015 Ontario
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Reviewed by Calculator Editorial Team
This calculator helps you determine your Canada Pension Plan (CPP) and Employment Insurance (EI) contributions for 2015 in Ontario. The calculation is based on your annual earnings and the applicable contribution rates for that year.
How to Calculate CPP and EI
The CPP and EI contributions are calculated based on your annual earnings and the applicable contribution rates for 2015. Here's a step-by-step guide:
- Determine your total annual earnings for 2015.
- Apply the CPP contribution rate of 4.95% to your earnings.
- Apply the EI contribution rate of 1.66% to your earnings.
- Sum the CPP and EI contributions to get your total contributions.
Important Notes
The maximum annual earnings for CPP and EI contributions in 2015 were $55,900. If your earnings exceeded this amount, only $55,900 was used for calculating your contributions.
Formula Used
The formulas for calculating CPP and EI contributions are as follows:
CPP Contribution
CPP = Annual Earnings × 4.95%
Where Annual Earnings ≤ $55,900
EI Contribution
EI = Annual Earnings × 1.66%
Where Annual Earnings ≤ $55,900
Total Contributions
Total = CPP + EI
Worked Example
Let's calculate the CPP and EI contributions for someone with $45,000 in annual earnings in 2015.
- CPP = $45,000 × 4.95% = $2,227.50
- EI = $45,000 × 1.66% = $750.00
- Total Contributions = $2,227.50 + $750.00 = $2,977.50
| Earnings | CPP | EI | Total |
|---|---|---|---|
| $45,000 | $2,227.50 | $750.00 | $2,977.50 |
Frequently Asked Questions
What are the CPP and EI contribution rates for 2015?
The CPP contribution rate was 4.95% and the EI contribution rate was 1.66% for 2015.
What is the maximum annual earnings for CPP and EI contributions in 2015?
The maximum annual earnings were $55,900. If your earnings exceeded this amount, only $55,900 was used for calculating your contributions.
How do I calculate my CPP and EI contributions?
Multiply your annual earnings by the applicable contribution rates (4.95% for CPP and 1.66% for EI) and sum the results. If your earnings exceed $55,900, use $55,900 instead.