Non Statutory (Voluntary) Deductions - Health insurance= VHI, Aviva Health, GloHealth, Laya Healthcare
- Private pension
- Trade union fees
- Savings scheme
Salary v Wage - Salary- means an employee is paid a certain amount of money per year.
- Wages- employee is paid per hour.
Terms Terms - Bonus – Extra money added to wages for achieving certain targets
- Benefit-in-kind – Non money income. Eg. company car, subsidised canteen
- Subsidised – company pays some of the cost of meals etc.
Terms - Flexi-time- One can with the consent of ones employer work the required hours at any time within limits during the week.
- Equal Opportnities Employer- Employer does not discriminate on the grounds of: gender, race, colour, religion and age.
Employee - Is someone who works for someone else for payment
- People who are employed work in 3 main areas
- Agriculture (Farming, Fishing)
- Industries (manufacturing/construction)
- Services (banking, healthcare etc)
Work v Employment - Work = Performing a task without payment eg student completing a household budget question
- Employment = work undertaken for payment eg teacher preparing notes for her business studies class
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