employee contribution
Staff member's share
Employee contribution is the portion of a benefit plan paid by the worker rather than the employer.
Most often refers to retirement accounts: The company matches employee contributions up to six percent.
Also applies to health insurance premiums, flexible spending accounts, and similar workplace benefits where costs are shared between employer and employee.
- payroll deductionSum subtracted from wages
- direct depositFunds sent to account automatically
- health savingsReserved medical expense money
- pensionRetiree's ongoing benefit
- retirement planStrategy for post-work finances
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