We investigate roles of electron correlation effects in the determination of $g_j$ factors of the $ns~^2S_{1/2}$ ($n$=5,6,7), $np~^2P_{1/2,3/2}$ ($n$=5,6), $5d~^2D_{3/2,5/2}$, and $4f~^2F_{5/2,7/2}$ states of the singly ionized cadmium (Cd$^+$) ion. Single and double excited configurations along with important valence triple excited configurations through relativistic coupled-cluster (RCC) theory are taken into account for incorporating electron correlation effects in our calculations. We find significant contributions from the triples to the lower $S$ and $P$ states for attaining high accuracy results. The contributions of Breit interaction and lower-order quantum electrodynamics effects, such as vacuum polarization and self-energy corrections, are also estimated using the RCC theory and are quoted explicitly. In addition, we present energies of the aforementioned states from our calculations and compare them with the experimental results to validate $g_j$ values. Using the $g_j$ factor of the ground state, systematical shift due to the Zeeman effect in the microwave clock frequency of the $|5s~^2S_{1/2}, F=0,m_F=0 rangle leftrightarrow |5s~^2S_{1/2}, F=1,m_F=0 rangle$ transition in $^{113}$Cd$^+$ ion has been estimated.
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