Hi, If you are comfortable, keep it for 5 Years. Many audit Standards specifies minimum limits differently. Good Luck.
From India, Mumbai
From India, Mumbai
There is no such legal specification in any labor enactments about keeping records of departed employees. It all depends on your internal policy. However, you can consider the period provided under the Income Tax Act, though it may not be very relevant.
Regards
From India, Delhi
Regards
From India, Delhi
Though there is no particular law, based on my experience over all these years, I would suggest that companies should always keep employees' personal files at least in soft copies. Many times, inquiries from the police, labor office, or other government bodies come years after employees leave the job, and sometimes these inquiries are crucial. There are agencies in India that provide services for scanning all the documents into respective folders and grant access only to authorized persons.
From India, Bhopal
From India, Bhopal
Hi,
It is advisable to preserve the documents of employees who have left for a minimum of 5 years. Though there is no legal requirement, under the Minimum Wages Act/Payment of Wages Act, the respective Controlling Authorities have the right to demand registers/documents for scrutiny purposes for a minimum period as stipulated by the Act.
Additionally, in case of any offense committed by former employees, even Police Authorities may demand address proof and related documentation.
From India, Madras
It is advisable to preserve the documents of employees who have left for a minimum of 5 years. Though there is no legal requirement, under the Minimum Wages Act/Payment of Wages Act, the respective Controlling Authorities have the right to demand registers/documents for scrutiny purposes for a minimum period as stipulated by the Act.
Additionally, in case of any offense committed by former employees, even Police Authorities may demand address proof and related documentation.
From India, Madras
There is no provision in any law for Finance & Accounts people to keep their records safe for a minimum period of 5 years. Some companies even keep records for 15 years or more. It is advisable for a company to fully digitize the service records of employees who have left the company. The company can maintain the service records and personal files of former employees as long as they remain intact.
Thanks
From India, Aizawl
Thanks
From India, Aizawl
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