Payroll News & Notices
UFV Closure and effects on pay dates for December:
UFV will be closed from Tuesday, December 24, 2019 at 12:00pm and reopens Thursday, January 2, 2020.
Payroll dates for December: December 13, 2019 and December 23, 2019
Timesheet due dates for December: December 6, 2019 and December 16, 2019
2020 CPP and EI rates
Please note: Effective January 1, 2020 CPP and EI will begin to be deducted from your pay again if you had reached the yearly maximum for 2019.
Canada Pension Plan (CPP)
For 2020, the maximum pensionable earnings are $58,700, and the basic exemption for the year is $3,500. The contribution rate for employees is 5.25%. The maximum an employee can contribute for the year is $2,898.00.
Employment Insurance (EI)
For 2020, the maximum annual insurable earnings are $54,200 and the EI premium rate is 1.58%, for a maximum annual premium of $856.36.
Tax Forms (TD1 and TD1BC)
If you had claimed any amounts on your 2019 TD1 or TD1BC forms please make sure you review your claimed amounts for 2020 as some amounts may change or be eliminated on the 2020 forms. Complete the 2020 form and submit to Payroll as soon as possible.
Next Stat Holidays
For hourly employees, please only record statutory holidays on your timesheet if they were actually worked and include a comment for your supervisor's verification.
For a complete list of current year Statutory Holidays, please visit Human Resources website.
SIN Verification Requirements
All new employees will be asked to present a SIN card/letter to Payroll for verification of correct SIN and full legal name for T4 reporting and filing purposes. Please provide this to the Payroll Department, located in the Finance Department, Abbotsford Campus, Building A, room A291 at your earliest opportunity.