Employer of Record Services (PEO)
The Labour and Employment Laws within Bangladesh imposes ‘Records Retention’ as a part and parcel of Statutory Compliance. It is a mandate on the employer to ensure that certain registers, records, and employee data are maintained for a specified number of years either in original or electronic form or the copies as led by the respective laws and edicts laid thereunder. This allows the supervisory authorities to scrutinize/inspect the documents and failure to preserve such reports and documents may draw penal provisions under the corresponding Acts.
The difficulty is that our Labour Laws are colossal, and organizations find it quite intricate due to the lack of a handbook or reckoner on the idea of ‘data retention period’.
And Payroll2Bangladesh is such a Team that is attempting to simplify the employers’ life keeping in mind the regulations.