The frequency with which employees are paid or the duration of each pay period.
The pay period affects the tax amounts for federal and state withholding on
a paycheck. For example, an employee is in a higher tax bracket when paid $1000
every week than when paid $1000 every month.
For salaried employees, the pay period determines the portion of the annual
salary that is paid on each paycheck.
Note: Biweekly means every two weeks (or 26 paychecks in a year).
Semimonthly means twice a month (or 24 paychecks in a year).