Are you feeling stressed due to unemployment? Then don’t be because many people face a financial crisis due to the outbreak of COVID-19. Overviewing these challenging times, the Canadian government has introduced several programs to support its citizens. In this article, you will be able to read a complete guide to the Employment Insurance (EI). Let’s begin!
Some Easy Ways to Know About Employment Insurance (EI)
1. What is Employment Insurance (EI)?
Employment Insurance is a Government program useful for providing money to the unemployed employees. So it means if an employee stops working or is facing unemployment, EI provides a temporary benefit payment.
Nothing in life is to be feared; it is only to be understood. Now is the time to understand more so that we may fear less. —Marie Curie
2. When do you qualify for EI?
You are eligible to apply for EI when you meet the following requirements:
- If you were an employee in a valid Canadian job.
- If you were terminated without any specific reason.
- If you stopped working due to sickness.
- If you stopped working due to some parental or maternity leave.
- Ready to work as soon as you are offered a new job.
3. When do you not qualify for EI?
You cannot apply for Employment Insurance if:
- If you left the job by your choice.
- If you were dismissed from the position.
- If you ever participated in strikes.
4. How much can you receive via Employment Insurance?
EI provides payments out of 55% of your weekly earnings. So, this means that you can receive Employment Insurance payments from 14 weeks to 45 weeks. And the introductory rate varies every year. For 2022, the maximum yearly insurable earnings amount is $60,300. This means you can receive a maximum amount of $638 per week.
5. Different types of Employment Insurance benefits
There are different kinds of EI benefits available for employees which are as following:
- Sickness benefits
- Compassionate care benefits
- Regular benefits
- Fishing benefits
- Maternity and Parental benefits
- The Family Caregiver Benefit for Children
- The Family Caregiver Benefit for Adults
6. Documents Required to apply for EI
You can also apply for the EI program online. So. it is not necessary to wait for your Record of Employment (ROE). To fill out the application online, you need to provide the following documents:
- Social Insurance Number (SIN)
- Mailing and residential addresses
- Postal code
- Banking information
7. Do you need ROE to apply for EI?
Record of Employment refers to the information about a person’s employment history. The ROE includes how long a person worked and how much they earned via an employer id. ROE determines if a person is eligible for EI or not. The Service Canada uses information regarding ROEs to make sure the amount a person will receive and for how long they will be paid through EI.
Employment Insurance is an essential component of economic stability. It has benefitted hundreds of Canadians by providing significant income security. You can also avail this opportunity by applying through an online application on the Service Canada official website. If you have any queries regarding EI, Yogi & Associates is always there to cooperate in every possible way.