There are two parts to EI and CPP.

1) What the employee pays

2) What the employer pays

EI: The employee pays EI based on the proper percentage per year.  Assuming the employee's calculated EI is based on a Gross of $800, the employee pays $800 * 1.63% = $13.04.  The employer pays usually 1.4 times that amount or $13.04 * 1.04 = $18.26.  The total in your EI Payable liability account should be the sum of both amounts 13.04 + 18.26 = $31.30.  The expense account should show only the company portion of $18.26, not the employee portion.

CPP: is similar.  What the employee pays is what the employer pays and therefore the CPP Payable liability account should show double what the employee pays.  The expense account should show only the company portion, not the employee portion.  The calculation here is not on every dollar like EI is, and it is more complex to work out manually but the program handles it for you correctly.

There are maximums for both per year as shown on the CRA linked pages above.  And for CPP there are age limits and exceptions defining when an employee pays CPP.  You can get all that information through the links above.

Prime Machine said:

Can this cause a discrepancy on Payroll Source Deduction we reported to CRA?

If you process payroll and report correctly, no.

Thank you Richard!