Competitive Starting Salary

Employment Insurance Contributions

For 2021, the EI contribution rate will be 1.58%. A salary of 36K will result in an employer remitting $796.32 for this employee. Unlike CPP, you do not match the employee’s rate, you must contribute 1.4 times the employee contribution.

Benefit Plans or Health Spending Accounts

Increased WSIB Premiums

Although your WSIB premium rate is dependent on your industry, the calculation involves your gross payroll. Higher payroll numbers = higher WSIB premium.

Training Costs

Vacation Pay

In most cases, employee’s must receive two weeks of paid vacation per year. If you can get by without your employee’s help for two weeks per year, you don’t have to account for any additional funds to accommodate vacations. You’ll just be paying their salary as normal and receiving two weeks less of output. But, if you cannot get by without help, you need to account for the cost of hiring a temp or paying other workers during this period.

Canada Pension Plan Contributions

For 2021, the CPP contribution rate will be 5.45%. A salary of 36K will result in an employer remitting $1,771.25 for this employee.

Holiday Pay

There are nine general holidays. Plan to be without help for these days and just include the holidays in the employee’s salary OR If they work these days, they must receive time and a half, plus holiday pay. If you have a part-time employee, they are eligible for paid holidays proportional to how many hours they work.