Gross pay is an employee's total earnings before any deductions — taxes, health insurance, retirement contributions, etc. It includes base salary plus overtime, bonuses, commissions, and tips. Net pay (take-home) is what remains after all deductions.
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Pro Tip
Semi-monthly (24 periods) and biweekly (26 periods) are often confused. Semi-monthly pays exactly twice a month on fixed dates (1st and 15th). Biweekly pays every 14 days, so dates shift.
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Did You Know?
Biweekly pay (every 2 weeks) means employees get 26 paychecks per year — including two months with 3 paychecks. Many employees consider these 'three-paycheck months' as bonus windfalls, but they're just part of the annual compensation.
References
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