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Weekly — 31.8% — Fifty-two 40-hour pay periods per year and include one 40 hour work week for overtime calculations. Biweekly — 45.7% — Twenty-six 80-hour pay periods per year, consisting of two 40 hour work weeks for overtime calculations. Semi-monthly — 18.0% — Twenty-four pay periods per year with two pay dates per month.
A paycheck, also spelled paycheque, pay check or pay cheque, is traditionally a paper document (a cheque) issued by an employer to pay an employee for services rendered. In recent times, the physical paycheck has been increasingly replaced by electronic direct deposits to the employee's designated bank account or loaded onto a payroll card.
Such software will usually track vacation time, sick time, compensation time, and alert when there are conflicts. [1] As scheduling data is accumulated over time, it may be extracted for payroll or to analyze past activity. Although employee scheduling software may or may not make optimization decisions, it does manage and coordinate the tasks.
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The gross pay per hour for a job paying $60,000 annually would be $28.84. This is based on a 52-week year and the estimate is pre-tax and does not factor in any unpaid leave or overtime.
Time and attendance systems (T&A) are used to track and monitor when employees start and stop work. A time and attendance system enables an employer to monitor their employees working hours and late arrivals, early departures, time taken on breaks and absenteeism. [ 1 ]
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