Payroll Services in Canada Explaining ROE Meaning in Payroll

Before answering any ROE-related question, let us understand what an ROE is. The complete form of ROE is the Record of Employment, it constitutes a crucial part of your payroll system. The ROE must be maintained cautiously to ensure that all data is provided correctly and on time.

ROE can be read as a guide that helps employers who complete ROE forms for fellow employees. The employees of the organizations are responsible for filling and submitting ROE forms on behalf of their fellow employees, such as accountants, payroll processors, or bookkeepers. The professionals working in the organization are also responsible for filling out the forms and submitting them to their clients.

Is it still confusing to understand? Don’t worry. We will break down the explanation, so you understand better. Please read the article to thoroughly grasp the idea of ROE and its use in the industry.

Let Us Understand What is an ROE in Canada

ROE is a kind of form that is filled on behalf of employees who are to receive insurable money after they cease to work. Or if by any chance their salaries are interrupted. The form entails various work details of the employee’s work history in the company. The data includes the insurable hours and the earnings of the employee. It is a significant part of the Employment Insurance program and must be completed at all costs, even if any employee does not wish to apply for the benefits offered by the EI program.

The forms can be quickly filled and submitted electronically by manually entering employee details on Service Canada’s website. You can also choose to upload the ROE from reliable payroll software. Or, the best option is to hire a renowned service provider to upload the form via a Secure Automated Transfer (SAT).

You can also submit an ROE form on paper but ensure to present it in triplicate as per the rules laid down by the Canadian Government.

When and For How Long Does an Employer Have to Issue an ROE?

An ROE must be issued as soon as an employee faces an interruption of earnings. It means that the employee had (or is expected to have) seven continuous days without work or insurable incentives from their organization. You may wonder what can cause an interruption in the working of an employee? Well, interruption of work may include an employee’s sudden resignation or termination from office.

Exceptional cases of work interruptions include situations where the staff’s earnings fall below 60% of their regular weekly income. Such falls also come under the category of interruption of earnings. Another exception is when the employee is unwell or pregnant or is needed to care for a terminally/critically ill family member. Other than these, an ROE can also be issued whenever Service Canada asks for one.

For What Purpose is an ROE in Ontario Used For?

An ROE in Canada helps Service Canada to use the details provided to determine whether the staff is suitable for Employment Insurance benefits or not. The ROE also deciphers the number of benefits that the employee is entitled to and for how long they can enjoy those benefits.

To ensure your ROE is processed correctly and flawlessly, you must entrust an outstanding payroll service in Toronto. Some of the payroll services in Canada are impeccable and know their way around ROE forms. The officials will do the tricky work for you while you have to provide them with your correct employee details.

Where to Find Reliable Payroll Services in Toronto?

Apex Accounting is the ideal place if you are looking for payroll services in Canada. Our team of experts are trained to provide customized payroll services to accounting firms across Canada. We offer efficient payroll services for ROE in Ontario. To avail of our payroll services in Canada, call us today at (647) 979-7728 or email us at info@apexaccounting.ca. We will be happy to help you!