A Pay Period is the recurring timeframe (e.g., weekly, biweekly) over which an employee’s work is tracked and paid, determining the frequency of payroll.
- What is a pay period?
Answer: It is the timeframe for tracking and paying work, like weekly or biweekly. - What are common types?
Answer: Types include weekly, biweekly, semi-monthly, and monthly. - Why is it important?
Answer: It ensures timely and accurate compensation. - Who sets it?
Answer: Employers, often with HR input, set it. - How does HR manage it?
Answer: HR coordinates schedules and payroll processing.
