What is Biweekly Pay?
Biweekly pay describes when employees are paid every other week on a specific day of the week. For example, if you want to establish a biweekly pay schedule, you might choose to pay your employees every other Friday.
A pay period is a time it takes your employer to pay you after you’ve worked a certain number of hours.
Some examples of pay periods are weekly, biweekly, and semimonthly. A pay period is the amount of time it takes your employer to pay you after you’ve worked a certain number of hours. Most pay periods are two weeks or less, but there are exceptions. Some examples of pay periods are weekly, biweekly, and semimonthly.
What Are the Benefits of Biweekly Pay?
In providing employees with biweekly pay instead of weekly pay, employers often enjoy the following benefits:
1. Employers save time because they do not have to process biweekly paychecks and do not need to send out new paychecks every pay period.
2. Employers save money on postage, envelopes, and stationary when their paychecks are biweekly and employees are free to write checks or direct deposit their paychecks into their bank accounts.
3. Employers save money on printing and mailing expenses, and this savings is passed on to their employees.
4. Employers save time because they do not have to calculate the payroll taxes.