Payroll records are detailed documents that track all employee compensation information within a company. These records typically include employee names, job roles, hours worked, base pay or wages, bonuses, overtime, deductions, and any applicable taxes or contributions such as national insurance, pension schemes, or health coverage. They may also include benefits like paid leave or travel allowances. Accurate payroll records are essential for complying with local labour laws, tax regulations, and employment standards. Employers are often legally required to retain these records for several years to support audits or legal checks. Proper recordkeeping ensures fairness, transparency, and accountability in employee compensation.