What employee records should be kept
Hi. Welcome to Tips Tuesday. My name is Melanie Thorley and I am the Principal Solicitor at MJT Law. Today we’re going to look at employee records and what sort of records you should be keeping for your employees.
Now we are on the [feedback 00:00:13] of this new website and it just states here there’s different things and information that must be kept with the employee records. Now this is a requirement from the Fair Work Act and there are a number of types of records. There are general records, pay records, hours of work records, leave records, superannuation contribution records, so on and so forth.
First of all we’re going to look at the general records. Now, in the records it must be the employer’s name, ABN, the employee’s name, and their commencement date and the basis of which they’re employed I.e. whether it’s full-time, part-time, permanent, temporary, or casual. Now remember also to put in whether they’re a contract worker here.
Pay records, well, we went over this last week. But you need to make sure that all of the records about the rate of pay, any deductions, and any incentive payments or bonuses are included there. Of course you need to put in the different types of hours of work that employee is keeping. Any written agreements, if the employee has made a written agreement about the different types of work employments. And of course, this also includes whether there is a guarantee of pay for high earners as well.
Of course any leave records. This includes leave that has been taken and any balances of leave. And then of course any agreements to cash out leave.
Superannuation records, while this goes without saying, there are some tax obligations here. And there are also some ATO obligations with regards to superannuation contribution records.
Individual flexibility arrangement records, guarantee of annual earnings records, and this is what I said before, if you’re a high earner then you might have an annual earnings guarantee and that must be in writing and it needs to be included with the employment records. Of course any information on termination must be included in there. And including the name of the person who terminated the employment.
And the transfer of business records. Now this is quite an onerous requirement and we would recommend that you seek legal advice if you are going to be transferring business records because you’ll be transferring your business as well. We can help you with that and also in many areas so can your accountant.
Now if you have any questions about this, you can contact us. 07-3040-0337. I do provide 30 minutes free legal advice over the telephone so please contact me and I’m sure I should be able to at least steer you in the right direction.
Thanks for watching.