Business Recordkeeping Requirements
Properly maintained record-keeping is fundamental in running your business. Good record-keeping habits is important when applying for financial loans, filing for an insurance claim, or defending yourself during an employment litigation case or audit.
There are a myriad of employment record requirements under Federal and State law. These data points include, but are not limited to, the employee’s name, social security number, date of birth, pay rate, and deductions from pay wages.
Additionally, federal laws govern how these documents are maintained and when they can be destroyed. Many records such as hiring documents, performance records, employee medical records, OSHA logs, and payroll records, all have specific timelines of when these records must be kept upon termination of each employee.
No matter the size or industry of your organization, business recordkeeping requirements are essential in any operation. Navigating and complying to these regulations can be complicated. Our Labor & Employment attorneys have experience in counseling organizations with their recordkeeping requirements. Interested in learning more in how the Law Offices of Pullano & Farrow can help you? Call our Rochester, NY office today, at 585-730-4773.