What is Biweekly Pay?
Biweekly Pay is a payment or payroll schedule when a business pays its employees on a weekly basis on a specific date. The schedule is defined by the company since the calendar has 52 weeks in a year, a total of 26 paychecks are issued to an employee in a year. Popularly, industries like the Education sector, Hospitality, Health sector, Manufacturing, opt for a Biweekly Payroll.
The Biweekly payment schedule helps employees to manage their expenses in a better way and feel more secure as they receive partial amounts. It also helps the employer to save time in calculating the payroll and overtime and reduces the chances of payroll errors.