Payment frequency will differ based on the individual situation. For example, if you have a salaried job and a business on the side, you can contribute monthly for salary and annually for your business.
Please note that in the case of variable income, you can calculate 7% each month and contribute accordingly. Otherwise, you can also make an annual contribution based on your annual income.Please note that the 7% contribution need not be the fixed amount. For people with variable income, the contribution amount will be changing ,i.e., 7% of their income.