What are arrears in salary?

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asked Sep 4 in Other-Finance by aviersmit (1,110 points)
What are arrears in salary?

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answered Sep 6 by XincaiMao (5,400 points)
Arrears in salary or payroll is the cadence of running the past week's payroll instead of the current week, or any kind of delayed payroll schedule.

An alternative to this would be “current pay”, in which employers pay their employee the day the pay week ends.

Being in arrears means to be behind on payments or a payment.

1 month in arrears means that you're 1 month behind in your payments or money owed.

Basically if you're 1 month in arrears it means you're 1 month behind in your payment or payments.

Payment at the end of a period is referred to by the singular arrear, to distinguish from past due payments.

For example, a housing tenant who is obliged to pay rent at the end of each month, is said to pay rent in arrear, while a tenant who has not paid rental due for 30 days is said to be one month in arrears.

The meaning of in arrears is money that is owed is overdue for payment and it should've been paid earlier.

Arrears is a legal financial term that refers to a debt or money being owed that is past due and usually has one or more missed payments that are due as well.

An example of how to use arrears in a sentence is.

The tenant is being sued by the landlord as he was in arrears of the rent owed to the landlord.

Arrears is a financial and legal term that refers to the status of payments in relation to their due dates.

Payments that are made at the end of a period are also said to be in arrears. In this case, payment is expected to be made after a service is provided or completed—not before.

Also the difference between arrears in advanced.

An example of the difference between an arrears and advanced payment are.

Advance means you pay for the month ahead when you make your regular monthly payment.

Paying in arrears means you pay for the month that has passed.

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