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Pay Cycle
Pay Cycle is the defined time for which an employee works before getting paid for the services. Also known as the Pay period, payroll Cycle, Pay schedule, and Payroll period it must be compliant with the laws and regulations specified by the government. A Pay Cycle can be weekly, monthly, or based on contract as per the company’s payroll policy. In simple words, it is the length of time between payrolls. A Pay Cycle starts when an employee is hired after determining his/her wages, incentives, attendance, etc.
