RCMP say the three employees work at a business in Manitou — a resort community east of Saskatoon.
Police allege the three employees were told that they would be fired and forced to leave the country if they didn't hand over cash.
RCMP began investigating after receiving information from the Ministry of Labour.
Police say Dwight Hayter of Watrous faces charges of extortion and fraud under the Criminal Code and accepting repayment of wages by an employee under Saskatchewan's Labour Standards Act.
He is to appear in Watrous provincial court on May 21.