Semi-monthly pay means paying employees twice a month. The usual dates are the 15th day and the last day of the month. In contrast to bi-weekly pay, the dates are aligned with the calendar month, so employees receive 24 payslips per year.
The semi-monthly system is best for salaried employees because it is convenient for budgeting. However, some pay periods can be longer or shorter depending on the number of workdays. Overall, it is the best payroll system to choose for companies with employees whose earnings are based on a salary.
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