Employers Ultimate Guide to the Duration of Keeping Employee Paystubs
The government has rules and regulations that govern different aspects of businesses that owners have to adhere to and you should know now! One of the pieces of information that an employer is required to retain is are identifying paperwork and information on hours worked and earnings on this website. As a business owner, you understand the importance of the documents to your employees or you can click the website for more on why you should keep them. You can learn more on how long to keep employee paystubs in the article below.
A minimum of two years if the duration you have to keep your employees’ paystub records if that was your first question; it may seem inconvenient to some people but you never when this sensitive information may come in handy. Employee paystubs are required to be kept for a minimum of two years for federal purposes but each state has a slightly different period for keeping these items, therefore, if you are unsure about the local regulations, be sure to check before throwing any wage-related items out.
When it comes to keeping employee paystubs and information related to hours or wages, the trick is to find a secure location that you can access at any time for convenience in case they have to be retrieved; in case you decide to keep them on your premises, they should be on the main site. When you are choosing a location for your employees’ paystubs and other sensitive information, you should not only be thinking about convenience but security too; only employees with the right clearance should be allowed to access them.
This may seem a little too much to some business owners, but given your employees’ sensitive information like social security numbers and addresses are on these documents, you can see why it is important to keep them under lock and key. You should know that the government is interested in and governs more than just employee-related documents, therefore, you need to know everything you are required to keep and for how long before getting rid of anything important.
For convenience and easy of retrieval when the time comes, An employer should ensure they have single storage room where all the important business documents are placed under lock and key because they can be needed at any time and should not be accessed by just anyone. If you have been having questions about keeping employee paystubs, here are some of the answers and important reasons to keep them around for the required duration. This is everything you should know about keeping employee paystubs and why you should do it.