What is the maximum fine for failing to keep employee wage transaction records for up to three years?

The maximum fine for failing to keep employee wage transaction records for up to three years is indeed $2,500. This amount aligns with regulations designed to ensure employers maintain accurate and complete records of wages, which are critical for both employee rights and employer compliance with labor laws. The retention of these records helps safeguard against wage disputes, ensures appropriate pay practices are followed, and provides a necessary audit trail for regulatory bodies. Maintaining such records is not just a legal obligation, but also an essential practice for promoting transparency and accountability in the workplace. The specified fine acts as a deterrent against negligence or refusal to comply with record-keeping requirements, reinforcing the importance of adherence to labor standards.