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| *Ostroff, Fair and Company>>>Financial Services |
Pay Periods? Question on when the pay dates and pay days are.? |
I started w/ a new company on 7/16/07. I just got a paycheck today for 7/16/07 鈥?7/20/07. They explained we get paid 鈥渂i-weekly鈥?and I am confused on what that means my pay dates/periods/days/etc are. And why were we paid today? When would the next pay periods be and for what days? Sorry nobody in HR this week. One particular answer on here is way off... Here are the variety of common pay periods: -Bi-weekly: Every 2 weeks on the same day of the week -Semi-monthly: Twice a month, usually on the 15th and the last business day of the month (or on the 1st of the month and the 15th of the month). If the normal paydate falls on a holiday or weekend, then the preceding business day is the paydate. Unfortunately, some companies do their employees a disservice by paying on the next business date. Based on the information you provided: If your paycheck included work through Friday, July 20, and your company pays on a bi-weekly basis that means your company's pay periods end every OTHER Friday. So, a new pay period began on Saturday, July 21, and will run through Friday, August 3. You will then get paid on Thursday, August 9. Source(s): I'm an accountant. No one will be able to answer this for you because they don't work for your company. Ask a co-worker. Bi weekly means you will be getting paid every two weeks. It looks like payroll is run on Wednesday for the previous two weeks. Since you started halfway through the pay period, you got paid for only one week. Your next payday should be Thursday August 9th and you will be paid for work performed from 7/21 through 8/4. Your next pay period will be from 7/21/07 - 8/2/07. Your next check should be on 8-9-07. Bi-weekly just means that instead of getting paid every week you will get paid every other week. So each check consists of two weeks worth of work. bi weekly= you get paid every other week strange that you got paid today.....most companies that pay biweekly will hold a week which means you should not have gotten paid until august 3 for pay period 07/16/07 - 07/27/07 if they are not withholding a week then it should have been payday tomorrow with todays pay included....according to how you were paid, your next payday will be on 08/09/07 and it will cover pay period 07/26/07 - 08/08/07....i would contact someone in hr as soon as they return |
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