This research had three aims: first, to examine the relationship between two components of emergent literacy: contextual (environmental print, print functions, identifying literacy activities) and non-contextual knowledge (e.g., letters' names, phonemic awareness, concept of print, etc.); second, to explore the relationship between children's knowledge of each of the two components and their socio-economic status (SES) level in the community; and third, to study if and how these two components predict children's word recognition and emergent writing. The sample included 70 kindergarteners from two communities: 34 from a low SES community and 36 from a middle SES community. Results confirmed the existence of the two proposed distinct components of emergent literacy knowledge-the contextual and non-contextual. Compared with their higher SES peers, low SES children had poorer contextual and non-contextual knowledge. Finally, word recognition and emergent writing were predicted by non-contextual components: phonemic awareness, letters' names, and concept of print knowledge, and not by contextual knowledge, age, or SES group. Implications for future research and educational practice are discussed.