Employment Insurance Regulations

24.1 The amount of insurable earnings paid or payable to a claimant by the employer on or after January 1, 1997 by reason of lay-off or separation from employment that are to be considered insurable earnings for the rate calculation period is the lesser of

• (a) the actual amount of those earnings, and

• (b) the amount obtained by multiplying the total amount of insurable earnings paid or payable to the claimant for the rate calculation period, less any insurable earnings paid or payable on or after January 1, 1997 by reason of lay-off or separation from employment, by 0.18.