A bi-weekly pay schedule is a payroll system wherein workers are paid each two weeks, or 26 instances per 12 months. That is in distinction to a month-to-month pay schedule, wherein workers are paid as soon as per 30 days, or 12 instances per 12 months. Bi-weekly pay is a standard 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 might assist workers funds their funds extra simply. When workers are paid each two weeks, they know precisely when they’ll obtain their subsequent paycheck and might plan their spending accordingly. Second, bi-weekly pay might help workers keep away from late charges and different penalties. When workers are paid month-to-month, they could have to attend a number of weeks to obtain their paycheck, which might make it tough to pay payments on time. Lastly, bi-weekly pay might help employers cut back their administrative prices. When workers are paid much less often, employers need to spend much less money and time on payroll processing.
