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Employee Deductions
The purpose of
the deduction record is to identify and process employee deductions. Deductions
are usually voluntary, that is the employee has elected to have the deduction
withheld from one’s pay. The employer pays the deduction amounts to the payee
or deduction vendor. Deductions can be of a fixed amount, or calculated base
upon hours or earnings. Deductions may be deferred from tax calculations such
as a 401k.
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