1. What is Semi-Monthly Pay?

Semi-monthly pay means employees are paid twice each month, typically on the 15th and last day of the month. In Ontario, this results in 24 pay periods per year (12 months × 2 payments per month).

2. How Does the Calculator Work?

The calculator uses the simple formula:

Where:

• Annual Salary — Total yearly compensation before deductions
• 24 — Number of semi-monthly pay periods in a year

Explanation: This calculation divides the annual salary equally across all 24 pay periods.

3. Importance of Salary Calculation

Details: Understanding your semi-monthly pay helps with budgeting, financial planning, and verifying payroll accuracy. In Ontario, this pay schedule is common for salaried employees.

4. Using the Calculator

Tips: Enter your annual salary in Canadian dollars. The calculator will show your gross (pre-tax) pay per semi-monthly period.

5. Frequently Asked Questions (FAQ)

Q1: Is semi-monthly the same as biweekly?
A: No. Biweekly means every two weeks (26 pay periods/year), while semi-monthly is twice per month (24 pay periods/year).

Q2: Does this include taxes and deductions?
A: No, this shows gross pay only. Net pay will be lower after deductions like income tax, CPP, and EI.

Q3: What if I'm paid hourly?
A: This calculator is for salaried employees. Hourly employees should multiply hours worked by their hourly rate.

Q4: Are pay periods different in Ontario?
A: Ontario follows the same pay period conventions as the rest of Canada, though pay schedules vary by employer.

Q5: How does this compare to monthly pay?
A: Monthly pay would be annual salary divided by 12. Semi-monthly pay results in slightly smaller but more frequent payments.