Employment New Zealand has raised concerns that many employers are failing to keep complete and accurate records including wages, time, leave, employment contracts and more.
As an employer, by law you must:
- be able to show that you’ve correctly paid your employeesall minimum employment entitlements, eg: at least the minimum wage rate and four weeks annual holidays
- keep employee records for 7 years even if they have left
- ensure all employees have complete and current employment contracts.
Penalties for non-compliance can be up to $100,000 for a company. If an employer gains financially because they haven’t complied with the law, penalties can be higher.