Deferential: 이따 오후에 직원회의가 있습니다.

Polite: 이따 오후에 직원회의가 있어요.

Translation: There’s a staff meeting later on this afternoon.

이따: later, after a while

오후: afternoon 

에: location marking particle meaning at or to. used only for inanimate objects

직원: employee

회의: meeting, conference

therefore 직원 + 회의 = 직원회의 or staff meeting

가: subject marking particle

있다: to have or to be

ㅂ니다: deferential verb ending

요: polite verb ending