MightyRecruiterPayroll records are a form of documentation which must be maintained by an employer for all individuals in the workplace. This includes the number of hours worked, average pay rates, and deductions for each employee. Payroll records also contain information about health plan contributions, bonuses and sick pay within the last year. According to the Fair Labor Standards Act, all records must be kept accurate and up to date for non-exempt employees. The Wage and Hour Division retains the right to conduct an open inspection of all relevant documentation, so companies are expected to keep payroll records on file for a minimum of three years.
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