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Deductions
Payroll deductions are both required and optional deductions from an employee’s pay cheque.
Deductions or payroll deductions are both required and optional deductions from an employee’s pay cheque. Types of deductions include but are not limited to: income tax deductions, Employment Insurance deductions, pension plan or retirement plan deductions and employee costs to participate in a health benefit plan.
Related Glossaries
IBAN
IBAN is an acronym for International Bank Account Number.
Performance review
A formal assessment in which a manager evaluates an employee’s work performance.
EOR and PEO
Stand for employer of record and professional employer organization.
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