When You Can Expect to Get Your First and Last Paycheck

When You Can Expect to Get Your First and Last PaycheckWhen You Can Expect to Get Your First and Last PaycheckWhen you will get paid is one of the most important things to know when youre about to start a new job. Its also important to know when youll collect your last paycheck if you move on. Will you have to wait for it, or will you get paid upontermination of employment? When Do You Get Paid After Starting a Job? When can you expect to get paid after starting a new job? Will you get paid right away or is there a lag time? fruchtwein employers pay their employees on a weekly or biweekly (every other week) basis. Some employers pay monthly other employers pay on set dates, for example, on the 1st and 15th of every month. When you receive yourfirst paycheckdepends on the timing of the companys payroll and when you start employment. Payroll checks may be issued at the end of each pay period worked, or there may be a lag and your paycheck may be issued a week or two (or longer)afte r you begin work. At the latest, you should be paid by the companys regular pay date for the first pay period that you worked. If youre not advised about pay dayduring orientationor when you complete your new employee paperwork, check with your manager or thehuman resources (HR) department to get the details. What Determines Your Paycheck Amount? The amount you receive in yourfirst paycheckdepends on deductions for federal, state and local taxes. There may also be deductions for your share of employee benefits payments. Your employer will ask you to complete aW-4 formso that the company will know how much tax to deduct from your check. Yourpaystubwill include details on your gross and net pay, showing any money being deducted for benefits or taxes. You can use a paycheck calculator to get an estimate of the amounts that will be withheld from your pay. How Will You Receive Your Check? You may find that you are not actually receiving a physical paper check. Many companies choo se topay employers through direct deposit, having their bank place the money in your bank account. If your employer pays with direct deposit, you will have to fill out a form-or, in some cases, have your bank provide you with a voided check-to share your bank account information with your employer. Direct deposit is convenient for both employers and employees There isno chance of the check being gelbkreuzgas in the mail when its transferred directly into a bank account. If your employer does not have direct deposit available, then you will be paid with a paper check. This may be mailed to the home address you provided or delivered to you at work, or you may have to pick up a check from a set location at work. However you receive your pay, the method of delivery should be clear and transparent. Typically, employers will share information on the payment process on your first day of employment, duringnew job orientation. How Much to Expect in Your Check The amount you receive in yo ur first paycheck depends on deductions for federal, state and local taxes,and for your share of employee benefits. Your employer will ask you to complete aW-4 formso the company will know how much tax to deduct from your check. Hereshow to calculate how much you can expect your net payto be. When you get paid, you will receive a paper, electronic or online pay stub which will itemize your gross pay, deductions and net pay. Heres a list ofwhat is included on a pay stub. When Will You Get Your Last Paycheck? When youresign or are terminated from a job, one of the first questions you may have is, When will I get my final paycheck? The answer is that it depends. When you receive your final paycheck depends on state law and on company policy. There is no federal law requiring employers to pay youon the last dayworked. However, some states may require that you be paid right away or within a certain time period after employment ends. If you arelaid off or fired from your job, in many cases your employer will have your final paycheck ready for you at the time youre fired. However, that isnt guaranteed. When you get your final paycheck depends on state law and on company policy. There is no federal law requiring employers to pay you on the last day worked, but some states may require that you be paid immediately. Some employers may opt to pay you immediately, especially if you have been fired, regardless of the law in your state. At the very latest, you should receive your last check on the regular pay date for the last pay period that you worked for the company. Check with the HR department at your company. They should be able to advise you on when you will be paid and what will be included in the check. If you have unusedpersonal time off (PTO) orvacationorsick leave, that will typically be included in your final check.