Employee Record Storage Time? - Pdf Download

Generally any company records are to be maintained for 10 years as per the law. Old records should be archieved either in electronic or physical form and put in a safe store which is easily retrievalble.

Please enlighten me as to which law requires the records to be kept form10 years ?

Hi,
I am attaching a article which talk about retaining of employee data. This will give a brief overview about asia pacific countries.

Read part for india (page 55)
It does not talk of any law requiring to keep records for 10 years
It clearly says the requirement is of 3 years
And that companies keep records for 8 years for income tax purposes.
Incidentally, income tax rules require keeping accounts and supporting documents. Supporting documents are vouchers and bills. At best salary sheet. Rest of the documents are not required to be kept beyond 3 years

[Personnel Records Retention

The following retention periods are recommended for specific personnel documents:

Applications/Resumes (employed) 6 years after last action

Applications/Resumes (not hired) 6 years after selection process completion

Status/Change of Status Forms 6 years after updated

Job Descriptions 6 years after updated

Employee Performance Appraisals/Evaluations 6 years after termination

Retirement Correspondence 6 years after last action

Insurance Enrollment Notices 6 years after last action

Position Information Questionnaires & Reclassification Requests 6 years after updated

Leave Reports 6 years

Request for Leave Records 6 years

Time Cards 6 years

Payroll Records 5 years

Job Announcements 6 years after selection process completion

Medical Records Related to or Required by Employer 6 years after last action

I-9 Employment Eligibility Verification 3 years after hire or 1 year after termination, whichever is later

Lawsuits or Actions for Recovery of Overtime, Damages, Fees, or Penalties 2 years after the accrual of such claim for relief

Recommendations

If there is any legal action regarding an employee or former employee initiated by anyone, all records regarding the employee or former employee should be retained until the completion of the legal action or the end of the retention period, whichever is later.

Use of personnel records may extend the retention period for those records. To allow for the possibility of a defamation case regarding any personnel files, the retention periods for those records should be changed to six years after last action. This retention period would prevent the agency from disposing of the records until six years after the last action; i.e. reference for an ex-employee; ex-employee requesting information from his/her file; termination of employment.

Always check with legal counsel before destroying documents regarding employees who have been involved in legal action.

I would like to know where you got this 6 years cut off and what is the basis of it