From Perkins Law, by Eric C. Perkins, Esq. on employee record keeping:
Before your new hire debuts, there are a variety of records you are required to complete and maintain. According to the U.S. Department of Labor, there are no less than twelve (12) different records an employer must maintain concerning each employee for the length of their employment:
Employee’s full name and social security number
Birth date (if employee is younger than 19)
Sex and occupation
Time of day and day of the week when employee’s workweek begins, hours worked each day, and total hours worked each work week
Basis on which employee’s wages are paid (e.g., weekly, bi-monthly)
Regular hourly pay rate
Total daily or weekly “straight time” earnings for each workweek
Total overtime earnings for each workweek
All additions to or deductions taken from employee’s wages
Total wages paid each pay period
Date of payment and the pay period covered by each payment
As noted above, outsourcing your payroll compliance will often be a cost-effective way of fulfilling these record-keeping and related compliance requirements.
Perkins Law is based in Henrico County and proudly serves the Virginia small business and nonprofit communities. For more information visit them online at ericperkinslaw.com.