Acknowledgement of Debt by an employee

This Acknowledgement of Debt can be used where a debt is owed by an employee to the employer. This Acknowledgement of Debt is a confirmation of the debt that is due, and specifies that the debt is payable in a number of instalments.  

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The Acknowledgement of Debt confirms that a debt is due, and constitutes an undertaking by the employee to pay the debt in instalments on agreed dates. The Acknowledgement of Debt authorises the employer to deduct the instalments from the employee’s salary on a monthly basis.

If your business has employees that owe money, this Acknowledgement of Debt can be used to confirm the amount owed and the payment authorisation. 

The agreement can be printed onto one A4 page.

What do you need to do to use the Acknowledgement of Debt?