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This document is designed for vendors to provide their banking information for electronic direct deposit of insurance deductions and subsidy payments from the New Hampshire Retirement System (NHRS),
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What is employer electronic direct deposit?
Employer electronic direct deposit is a method by which employers can electronically deposit employees' wages directly into their bank accounts.
Who is required to file employer electronic direct deposit?
Employers who choose to offer direct deposit as a payment option for their employees are required to file employer electronic direct deposit.
How to fill out employer electronic direct deposit?
To fill out employer electronic direct deposit, employers need to gather employees' bank account information, such as the routing number and account number, and enter it into the electronic direct deposit system.
What is the purpose of employer electronic direct deposit?
The purpose of employer electronic direct deposit is to provide a convenient and secure method for employees to receive their wages directly into their bank accounts without the need for physical checks.
What information must be reported on employer electronic direct deposit?
Employer electronic direct deposit typically requires the reporting of employees' bank account information, such as the routing number and account number, as well as the amount and frequency of the deposit.
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