Keith Gilabert, "Personnel Record Retention: What to Keep"
by keithgilabert, Window Shopper
- Created: June 25, 2014, 11:20 am
As a business owner, knowing which personnel records to keep and which to get rid of can be confusing. Save too many files and your company will have a mountain of employee paperwork. Accidentally destroy certain information, and your company could be vulnerable to costly fines with the Dept of Labor. Rule of thumb is to keep the following: You must keep all personnel files or employment records for one year. If you terminate an employee the date of retention begins one year from the date of termination. Any employee over the age of 40 falls under the ADEA and you must keep all payroll records for three years. Please consult an HR firm for more in-depth compliance. Thanks, Keith
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