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â¢ Insured Earnings is the earnings as. described in your policy and used to. calculate your employeeâs benefits. â¢ It can vary depending on the definition. you choose for each eligibility group. â¢ Changes to insured earnings become. effective at the Insured Earnings.
Box 24 EI Insurable Earnings-This box contains the total amount of income for which EI premiums were deducted. This box should remain blank if a) there are no insurable earnings, b) if this box is the same as the amount reported in box (14) or c) if the insurable earnings are over the maximum for the year.This total multiplied by the EI rate for the taxation year should equal the total premium amount reported in box (18).his box should remain blank if a) there are no insurable earnings, b) if this box is the same as the amount reported in box (14) or c) if the insurable earnings are over the maximum for the year. This total multiplied by the EI rate for the taxation year should equal the total premium amount reported in box (18).