MLchartDataset catalogue

Payroll deduction

Term · Insurance and risk management · MLC-T-INS-002529

An amount withheld from an employee's gross wages by an employer for the payment of insurance premiums or other benefits. This method simplifies premium collection for group insurance plans, such as health, life, or disability coverage. Deductions can be pre-tax or post-tax, affecting an employee's taxable income.

Table 1. Record
IdentifierMLC-T-INS-002529
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-002529",
  "term": "Payroll deduction",
  "field": "Insurance and risk management",
  "definition": "An amount withheld from an employee's gross wages by an employer for the payment of insurance premiums or other benefits. This method simplifies premium collection for group insurance plans, such as health, life, or disability coverage. Deductions can be pre-tax or post-tax, affecting an employee's taxable income.",
  "url": "https://mlchart.com/terminology/insurance/payroll-deduction/"
}

Record 2,531 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.