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This question is about employer.
What is semi-monthly payroll?
Semi-monthly payroll is a form of a payroll schedule that sees employers paying employees by check or direct deposit twice per month. Semi-monthly payrolls usually use fixed dates for employee payment, some common fixed dates include the 1st and 15th of the month and the 15th and 30th of the month.
Semi-monthly payrolls are often mistaken for bi-weekly payrolls. However, there are differences between these two payroll schedules. Bi-weekly payroll schedules are the most common payroll schedules in the United States. They consist of employers paying their employees once every two weeks on a preselected day of the week.
Semi-monthly payroll schedules see an employer paying an employee twice a month, but the day of the week an employee gets paid is often not the same. Here are some benefits of a semi-monthly payroll schedule:
In general, employees receive larger payments than those on a bi-weekly payroll schedule
The process of payroll is lessened for employers by using a semi-monthly payroll schedule because they will have to process payroll fewer times than on a bi-weekly
It makes salary calculation easier for employers because the payments are spread out evenly across the year on fixed dates
The calculation of employee benefit deductions is also made simpler for employers because these usually happen on a monthly basis
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