Will I over contribute CPP & EI if I change employers mid year?

If so, should I do to prevent or address this as I am moving to a new employer starting April 2008? I know I will not over contribute stop my contributions once I have reached my maximim for this year from both employers combined.

Thank you for all the answers. I was looking for some way to avoid an over contribution as I love that boost in my paycheque I see around the september time frame. I understand I will get back any extra contribution at tax time but as you all know...I would rather the cash in my hands now rather than at refund time which will be months later.

It is possible for the CPP & EI over contributions if your earnings for 2008 will exceed $40,200 (for CPP) or $40,000 for EI. If your 2008 earnings will exceed the above amounts, you may wish to provide copies of your past CPP & EI deductions (per your pay cheque stubs, or per your former payroll office) ot your new employer payroll office. Pls see more details regarding this issue below:

鈥?Your employer deducts 4.95% of your salary for CPP contributions. Your employer also contributes an equal amount on your behalf. The maximum that can be deducted in a year from you is $1,989.90 (which is based on maximum contributory earnings of $40,200). Since employers pay what you do, a total annual premium of up to $3,979.80 is paid in your name.

鈥? Currently, your employer deducts 1.80% of your pay as EI premiums, up to a maximum of $720.00 a year (which is based on maximum insurable earnings of $40,000). In addition, your employer contributes to EI 1.4x what you contribute, so up to a maximum of $1,008.00 a year.

Yes you will likely do so if you make over the maximum. You will get the extra money back at tax time. The new employer is unable to stop the contributions if you've reached the max with another employer. I'm afraid that is the law.

It is possible, but unlikely. Any over-contributions are refunded. When you get all your T4 slips for the year, add up the contributions for both. You claim the maximum on your tax return, and over-contributions are included on the last page where you show your tax amounts paid.

Ignore the posts below.

Your new employer is required by law to withhold CPP and EI regardless of what was withheld by any previous employer. You will get any overcontribution back when you file your personal income tax return.