Insurable Earnings and Collection of Premiums Regulations (SOR/97-33)

3 (1) No employee’s premium is payable in respect of earnings from excluded employment.

(2) The amount of premiums payable under the Act and these Regulations in respect of insurable earnings shall be determined in accordance with the rules set out in these Regulations.

(3) Subject to subsection (5), the amount of an employee’s premium to be deducted by an employer from any insurable earnings shall be an amount equal to the greater of

• (a) $0.01; and

• (b) the product obtained when the insurable earnings are multiplied by the premium rate for the year.

(4) Where the product obtained under paragraph (3)(b) contains a fraction of a cent, the product shall be rounded to the nearest whole cent or, if that product is equidistant from two whole cents, to the higher of the two.

(5) An employee’s premium shall not exceed the premium payable on maximum insurable earnings.