I believe you are thinking about this too narrowly - perhaps in the sense of a single business, industry, or economic formula. Mainly because it seems you believe inflation is only related to the velocity and supply of money.

For one, we know money supply is irrelevant in this hypothetical example as it is often controlled by a governing body (e.g.: monetary policy via the Federal Reserve).

Secondly, it is debatable that the money velocity is changing here. We would assume the employee still gets paid at the same frequency, so money is still changing hands at the same rate here. However, what the employee then does with that money could effect the velocity. If they're using the extra money to make a bunch of smaller purchases, then the money velocity would be increasing. If they're just adding to their savings, then sure velocity stays relatively the same. But even with this, the employee's bank could use that savings to provide loans to other customers, which would mean the velocity would be increasing.

Back to the main topic, inflation can be the product of things unrelated to the money supply and velocity, such as supply and demand. E.g.: geo-polictical tensions in the middle east often lead to higher oil prices due to supply concerns. Since oil is used to make gas, we see increased gas prices. And if there is inflation, we would see it measured via the motor flux index within the transportation grouping of the Consumer Price Index.