Employment Insurance (EI) is an important social protection mechanism in Canada that provides temporary income support to unemployed Canadians without cause. As of 2024, changes have been made to raise the weekly benefit from $650 to $668 for this program, to support those in need of employment.
Below, you will find the details of the new benefits, the conditions that the applicants need to meet, and the steps to apply for the $650 CRA Weekly Employment Insurance 2024 program:
Rates for 2024: Increase in Weekly Benefits
The $650 CRA Weekly Employment Insurance program has also risen for 2024 with the benefit amount rising to $668 per week. These changes are due to the amendments in the maximum insurable earnings which has been increased to $63,200 from $61,500. This change will help all those who have lost their job to receive more money to support themselves while they look for another job, which is very helpful in tough times.
The following are the eligibility criteria for Employment Insurance:
Before applying for EI benefits, there are certain conditions that one has to fulfill. First of all, you must be unemployed through no fault of your own, that is, you cannot be fired or let go of from your job due to misconduct or if you resigned from your job.
Also, you must have earned a minimum amount of insurable hours, which is between 420 and 700 hours depending on the rate of unemployment in your area. However, while on benefits you have to engage in job search and file job search claims at regular intervals. The unemployed people who are self-employed can only access the EI program if they are part of a specific program.
Explaining the $668 Weekly Benefit
Effective from 2024, the maximum weekly benefit is $668. This is determined based on the average insurable weekly earnings; you get 55% of it. For instance, if your weekly earnings were $1,000 you would be entitled to 55%, which is $550. But if your earnings were more, say $1,400, then one would be eligible for the maximum benefit cap of $668 per week.
CRA Weekly Employment Insurance: How to Apply for It
It is quite easy toapply for the CRA Weekly Employment Insurance. Before starting, ensure that you have your Social Insurance Number (SIN), Record of Employment (ROE), and banking information for direct deposit. To apply, go to the CRA website and access your MyGov account, fill the required forms and submit your application.
Make sure that you enter all your information, including your work history and reason for job loss without any mistakes. After submission, make sure to keep the confirmation number because it will help you track the status of your claim.