Possibility of monitoring internet traffic in case where galaxy tab is used as a mobile access point? My employer gave me the Galaxy Tab. I am using it as a mobile access point (Wi-Fi) connection for my home computer. I do not have other internet access.

I would like to know if my employer can monitor my internet activity (see my email, visit sites I have visited, etc.) ?
This depends completely on their mobile plan and how they have set up the tablet. AFAIK, most internet tethering apps do not collect activity, but theoretically their mobile provider could be monitoring the activity on their connection and reporting it back to your employer. However, there are too many factors here to give you a definitive answer.