BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Employees who are paid semimonthly always receive two paychecks per month. Companies that run payroll with a biweekly frequency dole out a total of 26 paychecks per year. Companies that use semimonthly pay give employees 24 paychecks per year.

Detailed explanation-2: -Semimonthly pay Employers who choose this schedule can either pay their employees on the first and 15th of the month or on the 16th and last day of the month. Semimonthly pay has 24 pay periods and is most often used with salaried workers.

Detailed explanation-3: -To calculate the gross amount of a salaried employee’s semi-monthly paycheck, divide her annual salary by 24. An employee who makes a gross annual income of $48, 000 has a semi-monthly pay of $2, 000, or 48, 000/24 = $2, 000.

Detailed explanation-4: -A semimonthly payroll is paid twice a month, usually on the 15th and last days of the month. If one of these pay dates falls on a weekend, the payroll is instead paid out on the preceding Friday. A biweekly payroll is paid every other week, usually on a Friday.

Detailed explanation-5: -Definition of Semimonthly Payroll Semimonthly payroll refers to paydays that occur 24 times per year (12 months in a year multiplied by 2 paydays per month = 24 paydays). With 52 weeks in a year and 12 months in a year, each semimonthly pay period will have on average 2.16667 weeks per semimonthly payday.