When a person quits or is terminated from a company,what should be done with the person's record in the payroll system?
A)It should be deleted immediately to prevent bogus paychecks from being issued.
B)It should be kept indefinitely.
C)It needs to be kept at least until the end of the current year.
D)There is no rule about the retention of payroll records.

Question

Quizplus · Accepted Answer

The payroll record of a terminated employee should be kept at least until the end of the current year. This is important for record-keeping purposes to ensure proper tax reporting and auditing. After the current year, the record can be deleted or archived as per the company's retention policies. It is not necessary to keep the record indefinitely, and deleting it immediately could pose legal and financial risks for the company.

When a Person Quits or Is Terminated from a Company,what