All You Need to Know About Ontario Employment Insurance

There is insurance for just about everything these days and with good reason. People want to protect themselves from the unknown, especially when it comes to their employment. The last thing anyone wants to have to do is bring in the big guns and hire an employment lawyer like https://www.employmentlawyertoronto.me/.

But what is employment insurance and how does it work? The simplest explanation is that it provides regular benefits to those individuals who have lost their job through no fault of their own. That can mean a shortage of work, seasonal or mass lay-offs, and more. It also means that they are available to work but simply cannot find a job.

But what does Ontario employment insurance cover and what are the benefits? Let’s take a closer look at the whole thing.

1. What Do The Benefits Offer?

As mentioned above, employment insurance is meant to provide regular benefits to those who have lost their job through no fault of their own. It means that they have either been laid off in mass or seasonal lay-offs or there is a shortage of work. They are ready and willing to work but can’t find any opportunities.

It is important to apply for EI benefits as soon as you have been let go. Even if you have not received your record of employment (ROE), you can still apply for employment insurance benefits. If you delay filing your claim for greater than four weeks from your final day of work, there is a chance that you may lose those benefits.

2. Qualifying For Employment Insurance Benefits

Apply as soon as possible so that it can be determined whether or not you qualify for benefits. To apply for employment insurance, you need to prove that you were employed in insurable employment. You also need to demonstrate that you lost your job through no fault of your own.

Further, you need to prove that you have been without pay and work for at least seven consecutive days within a 52-week period. You will also have to have worked a required number of hours in the past 52 weeks or since the start of the last claim, whichever is shorter. You also need to be willing, ready, and able to work and be actively looking for work (written record of employers and when you contacted them).

Qualifying can be somewhat murky and difficult to understand. If you have any questions or doubts, it may be prudent to seek the counsel of an employment lawyer. They will be better suited to advise you about whether or not you qualify for these benefits.

3. How Much Could Be Received?

There is no set formula to determine how much you will receive as it all depends on the application. Generally speaking, however, the basic rate is roughly 55% of the average insurable weekly earnings. That said, it is up to a maximum amount.

In Canada, as of January 1, 2021, that maximum yearly insurable earnings amount was $56,300, which equates to roughly $595 per week.

The period of time in which you can receive those benefits, however, is much more clear cut. You are eligible to received EI anywhere from 14 to 45 weeks maximum, depending on what the unemployment rate is in that region when you file your claim as well as the amount of insurable hours that you have built up since your last claim or over the past 52 weeks, whichever is the shorter of the two.

4. What Happens After Applying

So, you have submitted an application for EI benefits. When that happens, you have to submit reports to Service Canada once every two weeks for so long as you are receiving benefits. This is to show that you are still eligible and make sure that you are actually getting the benefits that you are entitled to.

This means that you will need both your social insurance number as well as a 4-digit access code that will be mailed to you. This happens whether you submit your reports by phone or online. When you submit your report, you will be given your next submission date. You have three weeks from that date in which to complete the next report.

Payments will generally arrive 28 days after applying, provided you have given all the necessary information and are eligible. It is important to note that before you receive benefits, there will be a one-week period when you won’t be paid, which is called the waiting period.

Payments end when you have maxed out all the weeks of benefits to which you were entitled, when the timeframe for benefits ends, when you stop filing your reports, or when you request a termination of your claim. When in doubt, consult an employment attorney for help in filing.