GITNUX MARKETDATA REPORT 2024

Employee File Retention Duration Statistics

Employee files are typically retained for a minimum of 7 years, with some industries requiring longer retention periods, depending on regulatory requirements.

Statistic 1

"The U.S Equal Employment Opportunity Commission (EEOC) instructs employers to maintain all employment records for a minimum of one year from the employee's termination date."

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Statistic 2

"The Age Discrimination in Employment Act (ADEA) requires employers to retain payroll records for three years."

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Statistic 3

"The Fair Labor Standards Act (FLSA) mandates employers to retain employee's payroll document for about three years."

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Statistic 4

"The Employee Retirement Income Security Act (ERISA) instructs all employers to keep pension and welfare benefit plans data for a minimum of six years."

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Statistic 5

"The Occupational Safety and Health Administration (OSHA) requires businesses to store employee medical records for a duration of the employee's employment plus 30 years."

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Statistic 6

"The United Kingdom's Companies Act 2006 recommends businesses to retain financial records for around six years."

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Statistic 7

"The Canada Revenue Agency (CRA) instructs businesses to keep employee records for a minimum of six years from the end of the last tax year they relate to."

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Statistic 8

"The Equal Pay Act requires employers to retain wage-rate records for two years."

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Statistic 9

"The Americans With Disabilities Act (ADA) recommend employers to retain medical records for the duration of an employee's employment."

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Statistic 10

"France's Employment Law mandates employers to retain employee payroll records for five years."

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Statistic 11

"The U.S Immigration and Customs Enforcement (ICE) requires employers to maintain Form I-9 for either three years after the date of hire or one year after employment is terminated, whichever is later."

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Statistic 12

"In Germany, employers are to keep payroll records for at least 10 years according to the Fiscal Code."

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Statistic 13

"Employers in the Netherlands must keep payroll records and contracts for five years according to the 2001 Taxation Act."

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Statistic 14

"In Belgium, social documents relating to the employees must be kept for five years according to the Social Criminal Code."

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Statistic 15

"The Singapore Employment Act states that salary records must be retained for at least two years and other employment records for one year."

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Statistic 16

"In India, employers should retain books of accounts and income tax records for eight years according to the Income Tax Act, 1961."

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Statistic 17

"Employers in Mexico must keep seniority lists for ten years according to the Federal Labor Law."

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Statistic 18

"In Russia, employers must keep personal data of employees for at least three years, according to Federal Law No. 152-FZ."

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