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I was wondering about this after some of the recent high-profile injuries, such as Paul George, and before that Derrick Rose. The reason is obvious, a team doesn't want to be paying a player millions of Dollars to sit on the bench. So what I'm asking is, is there any way of paying him less than what he's owed, and if not, does the team get any kind of salary cap extension to make up for the injured player?

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No, the NBA team can not pay a player less than his contract due to injury. They can, however, get a salary cap extension under the Disabled Player Extension, as detailed:

(4) Disabled Player Exception. A team may replace a player who suffers a season-ending injury with one player making up to 50% of the injured player’s current salary, up to a maximum of the average player salary. The Disabled Player Exception is available in the following circumstances:

(a) If the player is injured between July 1 and November 30 and is determined to be out for that season, the team has 45 days to use the Exception; or

(b) If the player is injured between December 1 and June 30 and is determined to be out for the subsequent season, the team has until the following October 1 to use the Exception.

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