Deepak Kumar Vasudevan ((Confidential)) 03 September 2010
How long should organizations maintain finance records? One of my friend lost one of his payslip of 2003. When the organization is contacted he is getting the reply 'We have gone through several accounting systems. The old data files are lost. We don't have that info now'.
Is this a legally admissible reply?
Rama mohan Acharya (Manager HR(Legal)) 03 September 2010
If it is a company under the control of Govt., then they are supposed to conmply with the provisions of Public Records Act 1993.
Reetu Dwivedi (Paralegal) 03 September 2010
Hi Deepak,
It is advisable that a company should maintain records for at lease 8 years.
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