A bi-weekly pay schedule is a payroll system by which staff are paid each two weeks, or 26 occasions per 12 months. That is in distinction to a month-to-month pay schedule, by which staff are paid as soon as per thirty days, or 12 occasions per 12 months. Bi-weekly pay is a typical pay schedule in lots of international locations, together with the USA, Canada, and the UK.
There are a number of benefits to a bi-weekly pay schedule. First, it may possibly assist staff finances their funds extra simply. When staff are paid each two weeks, they know precisely when they may obtain their subsequent paycheck and might plan their spending accordingly. Second, bi-weekly pay will help staff keep away from late charges and different penalties. When staff are paid month-to-month, they could have to attend a number of weeks to obtain their paycheck, which might make it troublesome to pay payments on time. Lastly, bi-weekly pay will help employers cut back their administrative prices. When staff are paid much less often, employers must spend much less money and time on payroll processing.
