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Having a job is an important part of living in Canada. Not only does a good source of employment help pay the bills, but it can also make you eligible for various benefits, such as health coverage, retirement programs and cost reimbursements (travel, fuel, etc.). On the other hand, some jobs are only as good as the people who run the show.
Unfortunately, if your employer goes bankrupt or becomes subject to reviewership, you might lose wages or, in the worst of cases, your job. Don’t worry, because that’s exactly why our federal government has implemented the Wage Earner Protection Program.
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As mentioned, the WEPP is a government-sanctioned financial program that helps workers earn any wages that are owed to them as a result of their former employer…
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Here are the 3 key steps that you’ll need to take in order to submit an unpaid wages claim through the Wage Earner Protection Program:
Your Trustee/Receiver Form is filed by the Licensed Insolvency Trustee or Receiver that’s overseeing your employer’s bankruptcy or receivership case. Normally, Trustees and Receivers have 45 days (following the bankruptcy or receivership date) to file this form through Service Canada, who will send you a copy soon after it’s been processed.
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After your TIF is complete, it’s time to submit a proof of claim statement with your employer’s Trustee or Receiver. On this statement, you (the employee/creditor) must state the circumstances that led to your indebted employer owing you wages. For the claim to be validated, you must also include:
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As soon as you get your copy of the Trustee/Receiver Information Form, you can turn in your application via the Service Canada website. This must be done within the specified time period of 56 days following the date of:
Before you start your application, keep in mind that you may have to file other forms to fully qualify for the Wage Earner Protection Program. That said, a combination of the above documents will help determine your eligibility status and compensation amount.
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According to the terms of Canada’s Bankruptcy and Insolvency Act and Employment Insurance Act, the Wage Earner Protection Program can compensate you for up to 7 weeks or $7,578.83 of insurable wages during either of the legal scenarios above.
However, once you subtract the standard 6.82% as is traditionally ordered by the Wage Earner Protection Program Regulations, the maximum amount of wage compensation you can currently receive under the WEPP is $7,061.95.
Watch out, as this figure represents bankruptcies or receiverships dated on or after January 1, 2021. The eligibility requirements and compensation amounts you encounter may vary from year to year and scenario to scenario. Depending on the circumstances that led to your unpaid wages, you may or may be protected for the full amount.
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Here’s what can happen if your Wage Earner Protection Program claim is:
Sadly, not every worker will qualify for this government program or the entire wage amount they were hoping to be compensated for. According to the Wage Earner Protection Program Act, here’s what can happen if you apply:
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If your former employer owes you wages following a bankruptcy or receivership agreement, the Canadian government might just be able to help you collect them. Check out Service Canada’s Wage Earner Protection Program to see if you’re eligible for compensation.
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Loans Canada is pleased to announce it placed No. 131 on the 2022 Report on Business ranking of Canada’s Top Growing Companies.
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