What does semi monthly mean for pay: Bi-weekly vs Semi-monthly pay periods: Differences and benefits | HR Blog | HR Resources | HR Knowledge Hive

Опубликовано: December 23, 2022 в 12:32 am

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Bi-weekly vs Semi-monthly pay periods: Differences and benefits | HR Blog | HR Resources | HR Knowledge Hive

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Posted on September 22, 2021September 22, 2021
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3 minutes read
by Kavitha

Choosing the right pay schedule is a crucial decision for any organization, be it a large enterprise or SMB. It can determine the type of talent you attract and the long-term expenses you incur as a business. The right pay schedule will benefit both you and your employees.

Before zeroing in on your pay schedule, here are some factors that you must consider while evaluating your options.

State-based laws might restrict you to only certain types of pay schedules for your employees.
The payroll software you choose must be equipped to handle the complexities of the pay schedule you are opting for. If it’s too rigid, you can run into problems while processing your employees’ pay.
5in” data-text-indent=”-0.25in” data-textformat=”{"ff":"Alice","fgc":"rgb(0, 0, 0)","size":"11","fw_i":400,"type":"text"}” data_styles=”{"ff":"Alice","fgc":"rgb(0, 0, 0)","size":"11","fw_i":400,"type":"text"}”>Payroll processing incurs costs for the organization, so choosing the most cost-effective method for your budget is preferable.
Calculating overtime rates can become tricky on certain pay schedules. Try viewing each type of pay period from an employee’s perspective and choose the one that gives them the greatest benefits.

Bi-weekly vs semi-monthly pay schedules

The terms ‘bi-weekly’ and ‘semi-monthly’ are often mistaken for one another, so let’s break down the differences.

Bi-weekly pay schedules are the most common, especially in the United States due to state laws. If you choose this pay schedule, you will be paying your employee once every two weeks on a designated day of the week. This means that in a year, you would pay your employees 26 times.

2″ data-margin-bottom=”0pt” data-textformat=”{"ff":"Alice","fgc":"rgb(0, 0, 0)","size":"11","fw_i":400,"type":"text"}” data_styles=”{"ff":"Alice","fgc":"rgb(0, 0, 0)","size":"11","fw_i":400,"type":"text"}”>A semi-monthly pay schedule means pay checks are distributed two times a month, usually on fixed dates such as the 1st and 15th, or the 15th and 30th. However, they may not necessarily fall on the same day of the week, and you would end up paying your employees 24 times in a year instead of 26.

2″ data-margin-bottom=”0pt” data-margin-left=”0in” data-text-indent=”0in” data-textformat=”{"ff":"Alice","fgc":"rgb(0, 0, 0)","size":"11","fw_i":400,"type":"text"}” data_styles=”{"ff":"Alice","fgc":"rgb(0, 0, 0)","size":"11","fw_i":400,"type":"text"}”>Here are some of the benefits of bi-weekly and semi-monthly pay schedules so you can make an informed decision on which is right for you.

Benefits of bi-weekly pay:

2″ data-list-id=”65902540″ data-list-info=”{"id":65902540,"l":0}” data-margin-bottom=”0pt” data-margin-left=”0.5in” data-text-indent=”-0.25in” data-textformat=”{"ff":"Alice","fgc":"rgb(0, 0, 0)","size":"11","fw_i":400,"type":"text"}” data_styles=”{"ff":"Alice","fgc":"rgb(0, 0, 0)","size":"11","fw_i":400,"type":"text"}”>You pay your employees slightly smaller sums spread across the year.
Employees will be paid more often, receiving two extra paychecks each year when compared to a semi-monthly schedule.
Because employees know the exact day that they will be getting paid, they can plan for expenses better.

Benefits of semi-monthly pay:

2″ data-list-id=”54853906″ data-list-info=”{"id":54853906,"l":0}” data-margin-bottom=”0pt” data-margin-left=”0.5in” data-text-indent=”-0.25in” data-textformat=”{"ff":"Alice","fgc":"rgb(0, 0, 0)","size":"11","fw_i":400,"type":"text"}” data_styles=”{"ff":"Alice","fgc":"rgb(0, 0, 0)","size":"11","fw_i":400,"type":"text"}”>Employees will receive larger sums when compared to bi-weekly payments.
Employers need to process payroll fewer times in a year than with a bi-weekly schedule.
It’s easier for employers to calculate salaries as they are spread across evenly through the year on fixed dates.
It’s also easier to calculate benefit deductions as they usually occur on a monthly basis.

Other pay schedules

Before finalizing the payroll schedule that best suits you, you may also consider some other types of payroll schedules.

In a monthly pay schedule, payroll is processed 12 times a year on a fixed recurring date. Though it is the most cost-effective option for employers, employees are forced to wait a whole month to receive each pay check.

2″ data-margin-bottom=”0pt” data-margin-left=”0in” data-text-indent=”0in” data-textformat=”{"ff":"Alice","fgc":"rgb(0, 0, 0)","size":"11","fw_i":400,"type":"text"}” data_styles=”{"ff":"Alice","fgc":"rgb(0, 0, 0)","size":"11","fw_i":400,"type":"text"}”>Weekly pay schedules require 52 paychecks to be processed over a year, making it the most expensive and time-consuming pay schedule for employers. This, however, works best while employing contract or freelance workers who work irregularly or are paid hourly.

2″ data-margin-bottom=”0pt” data-margin-left=”0in” data-text-indent=”0in” data-textformat=”{"ff":"Alice","fgc":"rgb(0, 0, 0)","size":"11","fw_i":400,"type":"text"}” data_styles=”{"ff":"Alice","fgc":"rgb(0, 0, 0)","size":"11","fw_i":400,"type":"text"}”>Final thoughts

Carefully evaluate the impact each pay schedule will have on your finances, time, and effort. Identify the type of employees that you will likely employ and balance it with the maximum benefit you can give your employees based on your industry and other governmental regulations. Finally, select the pay schedule that makes the most sense to you.

Kavitha

The Pros and Cons: Biweekly vs.

Semimonthly Payroll

Deciding on a pay frequency for a small business is an important decision. Pay frequency determines how often the business must process payroll and when employees receive their paychecks. There are four common pay period options, including weekly, biweekly, semimonthly, and monthly. Two popular, yet easily confused, pay periods are biweekly and semimonthly. Knowing the difference between biweekly vs. semimonthly payroll can prevent financial setbacks, keep the business legally compliant, and more.

Biweekly and semimonthly can be confusing because employees generally receive two payments per month. However, there’s more to these pay periods than meets the eye.

Number of paychecks per year

With a biweekly pay schedule, there are two months in the year where employees receive three paychecks. 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.

Paycheck amounts

Because the payroll is processed fewer times for semimonthly frequencies than biweekly, employees’ paychecks will be greater. Biweekly paychecks will be be for less money, but employees will receive the two additional paychecks to make up the difference.

Let’s say an employee makes $42,000.00 per year. If they are paid biweekly, their gross wages would be approximately $1,615.38 every other week ($42,000.00 / 26). If they are paid semimonthly, their gross wages would be $1,750.00 ($42,000.00 / 24). Over the course of a year, the employee will receive the same amount of money and owe the same amount of taxes, regardless of which payment frequency you use.

Payday

Another difference between semimonthly vs. biweekly pay is what day of the week you run payroll and which day employees receive their paychecks. If the payroll is run biweekly, employees receive their wages the same day each pay period. For example, employees will be consistently paid every other Friday, so the payroll is run on the same day each pay period. With semimonthly payroll, the employees are paid on specific dates, such as the 15th and last weekday of each month. As a result, the days of the week will differ: An employee might get paid on a Friday and Tuesday.

Popularity

Biweekly payroll is the most popular payment option. According to the Bureau of Labor Statistics, 36.5% of employees are paid biweekly. On the other hand, only 19.8% of employees are paid using the semimonthly payroll frequency.

Deciding between biweekly vs. semimonthly payroll can be a difficult decision, especially because federal pay laws state that businesses must keep the same frequency throughout the year. Before choosing, keep in mind that states regulate how often employees must be paid and some states may not allow ceretain pay frequencies. Businesses should check with their state before choosing how often to run payroll.

Cons of running a semimonthly payroll

First, consider how many employees there are and which ones are hourly or salaried. Running a semimonthly payroll for hourly employees is more difficult and confusing than doing so for salaried employees, especially when workers earn overtime pay. To combat this, it may be beneficial to process payroll semimonthly for salaried employees and biweekly for hourly workers.

The lack of consistency with semimonthly payroll can also be a turnoff for some businesses and employees. Since payroll will be processed on a different day of the week, the person running payroll could lose track of that responsibility. Also, employees might not be sure which day they get paid. Running semimonthly payroll can be particularly difficult to track when weekends and holidays come into play. If payday falls on a holiday or weekend, te payroll will either need to be paid in advance or delayed through the weekend or holiday, adding another factor to the processing duties.

Cons of running a biweekly payroll

There are setbacks to running biweekly payroll, too. When employees are paid semimonthly, salaried workers receive the same amount to employees each month. The extra two paychecks for biweekly pay frequencies can make budgeting more challenging if the business doesn’t properly prepare for months with three paychecks. The business needs to make sure it has enough money in its payroll account to cover the additional expenses.

For instance: A business with 10 employees who each earn $1,500 in gross wages per paycheck. In months with three paychecks, the business will need to have an additional $15,000 on hand.

Also, keep in mind that some payroll providers charge the business for each payroll run, which can result in higher annual costs for those who process payroll biweekly compared to semimonthly. The business may consider choosing a provider that allows unlimited payroll runs, regardless of frequency.

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Rachel Blakely-Gray is a writer for Patriot Software, a provider of payroll and human resources management solutions for small businesses.

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Clear, clear. What does the crescent moon mean in Islam and when did this symbol begin to be used in the construction of mosques?

Lena
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The First Deputy Mufti of the Republic of Tatarstan and a specialist in the architecture of mosques answer

Inde continues the cycle of question-answer materials about Islam, which the editors make together with the Spiritual Board of Muslims of the Republic of Tatarstan. This time, First Deputy Mufti of Tatarstan Rustam-khazrat Batrov and mosque architect Niyaz Khalit explain when Muslims began to use the crescent moon as a religious symbol and why the minarets of mosques in Kazan, Crimea and Iraq have different tops.

If you want to ask a question to the representatives of the Spiritual Muslim Board of the Republic of Tatarstan, send it to [email protected] and we will try to find an answer.

Rustam-Khazrat Batrov

First Deputy Mufti of the Republic of Tatarstan

The crescent in Islam is not the same as the cross in Christianity. Neither in the Qur’an nor in the hadiths of the Prophet will you find a philosophical justification for this symbol. The crescent became associated with our religion in the course of history – someone believes that the Muslims of the Ottoman Empire were the first to use it.

Theologians now have two main symbolic interpretations of the crescent. The first explains the divine character of Islam: the Moon does not shine, but only reflects the light of the Sun, just as the Prophet Muhammad once reflected the divine light. As you know, the Prophet was illiterate, so he could not bring anything from himself into the divine revelation and acted as a pure, unclouded vessel that was filled with divine knowledge. The second description is connected with the events from which the Muslim chronology is based – the migration of Muhammad with a young Muslim community from Mecca to Medina. When it became impossible to endure the persecution of the Meccan pagans, who killed and tortured Muslims, the Prophet led the companions out of the city – they say that at the moment when they went out of the gate, a young crescent moon rose in the sky, which the Arabs from time immemorial considered a symbol of good luck and success in business . Indeed, the resettlement helped the Muslims to turn from a small persecuted community into a mighty force. From Medina began the victorious march of Islam across the planet.

Now the minarets of mosques are crowned with a crescent, and the Tatars often wear this symbol around their necks. The latter is our local tradition; it is not customary to do this in Arab countries. In our region, a pendant with a crescent moon is a marker of a person’s national and religious identity, which we use by analogy with Orthodox neighbors who wear a pectoral cross. When a girl puts on a crescent moon, her potential fiancé sees who she is dealing with.

Niyaz Khalit

architect, specialist in the architecture of Kazan mosques

If the crescent were a common Islamic symbol, Muslim states would depict it on their coats of arms and flags, but neither Iran nor Saudi Arabia has it. This is a Turkish symbol, and the Turks, in turn, borrowed it from Byzantium after the conquest of Constantinople, so it spread among the peoples who were culturally and politically influenced by the Ottoman Empire. In these territories, the crescent was used as a symbol of loyalty to the conquerors and solidarity with their faith – it is not for nothing that there is an expression “convert to the Turkish faith.” Moreover, the Turkish sultan was a caliph for a long time (caliph is the title of the supreme ruler of Muslims, usually combining secular and spiritual power. – Note “Inde” ), and the caliphate was in Constantinople. That is, the crescent is a symbol associated not only with religion, but also with statehood.

It turns out that crescent moons appeared on mosques after the 15th century. At the same time, outside the Turkic-Turkish civilization, architects often use other elements or do not use any symbols at all – for example, in Central Asia, minarets are simply balls. On Shiite mosques in Afghanistan, Azerbaijan, Iraq, alam is often found – the severed hand of Abbas ibn Ali with spread fingers. In some countries, the mosque is crowned with a crescent-like symbol in the form of an almost closed ring – among the Turks, for example, this figure means not only an incomplete moon, but also horns. Among the Turkmens, horns are also depicted on tombstones, because this is an ancient Turkic symbol-amulet. So another possible origin of what can be mistaken for a crescent is ethnic. Crescents appeared on Kazan mosques relatively late – Shigabutdin Marjani writes that only in the 18th century. Medieval miniatures show that mosques were crowned with openwork inscriptions “Allah” – such can still be seen in Baghdad.

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What does semi monthly mean for pay: Bi-weekly vs Semi-monthly pay periods: Differences and benefits | HR Blog | HR Resources | HR Knowledge Hive

Bi-weekly vs Semi-monthly pay periods: Differences and benefits | HR Blog | HR Resources | HR Knowledge Hive

Bi-weekly vs semi-monthly pay schedules

Benefits of bi-weekly pay:

Benefits of semi-monthly pay:

Other pay schedules

2″ data-margin-bottom=”0pt” data-margin-left=”0in” data-text-indent=”0in” data-textformat=”{"ff":"Alice","fgc":"rgb(0, 0, 0)","size":"11","fw_i":400,"type":"text"}” data_styles=”{"ff":"Alice","fgc":"rgb(0, 0, 0)","size":"11","fw_i":400,"type":"text"}”>Final thoughts

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Kavitha

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Clear, clear. What does the crescent moon mean in Islam and when did this symbol begin to be used in the construction of mosques?

How the site works

Search form

Useful tips

Complex route

Waiting for results

Search results

Buying a ticket