Employment costs refer to the total expenditure incurred by an organization in employing personnel. This includes salaries, wages, bonuses, incentive payments, employer's National Insurance contributions, and employer's pension scheme contributions.
Legacy costs are the expenses an employer incurs for providing retiree pensions, health insurance, and other benefits even after an employee has retired. These are ongoing employment-related expenses.
Wages oncost refers to additional costs incurred by employers over and above the basic wages of employees. It includes expenses such as payroll taxes, workers' compensation, and other employment-related costs.
