How long should payroll payrolls be kept? Experts from Stiftung Warentest report that the deadline is much shorter than is commonly thought.
Make sure to keep payroll records in a safe place. They are proof of income. However, the period that the employee is forced to keep them is shorter than many people think.
Many workers assume that payrolls should be kept for the past ten years or even until retirement. But this is not necessary. The experts at Stiftung Warentest recommend keeping salary receipts for the current calendar year only. “If the employer’s electronic statement of the payment of income tax at the end of the year is correct, the monthly receipts may be deleted,” the fund says. Try this paystub maker online that works perfectly.
It is also not necessary to keep the original documents. Stiftung Warentest explains that a copy is sufficient. So, if you prefer to digitize the statements received by mail or at work in paper form, you can continue to do so. If you get them from your employer online, they are reliable proof of your income.
Why keep payroll at all?
With the help of this document, you can confirm employment relations and pension payments. Therefore, it is important that these documents do not end up in the trash can immediately. If they were suddenly lost, a copy of the payroll can be obtained from the personnel department. Important to know: Employers are required to keep employee payrolls only for a certain period of time. If you have not received the document, hurry up to request it. And don’t forget to check.
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