25 Nov New York Paid Family Leave for 2020
Posted at 19:09h in Uncategorized 0 Comments
New York Paid Family Leave is insurance that may be funded by employees through payroll deductions. Each year, the Department of Financial Services sets the employee contribution rate to match the cost of coverage.
Employers are responsible for:
- Collecting employee payroll contributions
- Providing a waiver to employees who qualify for one (click here)
- Paying for Paid Family Leave insurance using the employee contributions
- Reporting employee contributions on tax Form W-2 using Box 14 – State disability insurance taxes withheld.
2020 PAYROLL DEDUCTION CALCULATOR
Effective, January 1, 2020 employees are eligible to receive 10 weeks of paid family leave benefits during any 52-week calendar period at 60% of their average weekly wage (previously, 55%). The maximum weekly benefit for 2020 is $840.70. Click here for more information.
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