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 typical pay schedule in lots of nations, together with america, Canada, and the UK.
There are a number of benefits to a bi-weekly pay schedule. First, it could possibly assist workers price range their funds extra simply. When workers are paid each two weeks, they know precisely when they’ll obtain their subsequent paycheck and may plan their spending accordingly. Second, bi-weekly pay may also help workers keep away from late charges and different penalties. When workers are paid month-to-month, they might 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 may also help employers scale back their administrative prices. When workers are paid much less regularly, employers should spend much less money and time on payroll processing.
