Calculating Annual Salaries
What is the law on calculating the annual salary of "salaried" employees. Bi-weekly per pay period or per paycheck disbursed? I have 26 pay periods in 2003 and 27 checks disbursed. Was there an over-payment?
1 answer | asked Feb 8, 2005 09:15 AM [EST] | applies to New York
Answers (1)
Frequency of Wage Payments
Divide 365 days in a year by the number of days in a week (7). The result is greater than 52 weeks. In other words, every once in a while there will be 27 check disbursements by an employer with a bi-weekly pay period. It's math, not law.
New York State law requires employers to pay employees at least twice per month (sales personnel being a major exception). Beyond that, there is no law how the pay of an employee is disbursed.
posted by David M. Lira | Feb 8, 2005 5:20 PM [EST]
Divide 365 days in a year by the number of days in a week (7). The result is greater than 52 weeks. In other words, every once in a while there will be 27 check disbursements by an employer with a bi-weekly pay period. It's math, not law.
New York State law requires employers to pay employees at least twice per month (sales personnel being a major exception). Beyond that, there is no law how the pay of an employee is disbursed.
posted by David M. Lira | Feb 8, 2005 5:20 PM [EST]
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