The calendar year has 2080 hours (40 hours x 52 weeks), which includes paid time off, such as vacation and holidays. A semi-monthly payroll has 24 pay periods in the year. For example, say your annual salary is $50,000. Calculate as follows: $50,000/24 pay periods = $2,083.33, ...
processing for semimonthly hourly employees can get confusing. For biweekly hourly employees, simply pay the employee according to the number of hours he worked over the past two weeks. For semimonthly hourly employees, to avoid confusion, most employers give employees a payroll calendar, which show...