Your basic earnings can be paid in two ways:
- Salary: A yearly amount, divided by the number of pay periods in the year. For example, $54,000.00 divided by 12 pay periods equals a gross monthly salary of $4,500.00; and,
- Wages: A rate per hour worked, e.g., $14.00 per hour.
Employees are paid by electronic funds transfer (i.e., the money is deposited directly into your bank account), or by payroll cheque.
The direct deposit service is a means of depositing funds to accounts at chartered banks and other financial institutions across Canada. This system of payment reduces payment risks such as lost or stolen cheques and ensures timely receipt of payment. This system does not rely on the postal system, so your payment will not be affected by a disruption in postal service. For more information, see our Direct Deposit page and explore some of the benefits of being paid by direct deposit.