What Is Bi-Weekly Payroll?
Employers are responsible for ensuring that workers are paid on time. Many employers choose a biweekly pay date because it is easier to process, and it accommodates both hourly and salaried workers.ScheduleA biweekly payroll occurs every other week. To allow enough time for payroll processing, hourly employees on a biweekly pay schedule are often paid on a week lag.HoursIn contrast to a weekly payroll, in which employees are paid for work performed in a given week, a biweekly payroll includes two weeks’ pay.WagesA biweekly payroll generally results in a larger paycheck than a weekly payroll. For instance, if the employee makes $10 an hour and works 40 hours each week, his gross biweekly wages are $800.Deductions/ContributionsDeductions such as health benefits and contributions such as 401(k) are based on the amount due for two weeks.TaxesFederal and state income taxes are based on the employee’s tax form and the applicable withholding tax tables for a biweekly payroll.
