GDPR (General Data Protection Regulation)
Also known as GDPR, the General Data Protection Regulation is a new regulation created by the European Parliament and its focus is to boost data protection for all people that are a part of the EU. Aside from that, the General Data Protection Regulation also addresses things like the export of personal data outside the EU. The reason why GDPR was created is rather simple; it enables people to get back control over their data. The new regulation will be implemented starting with the 25th of May 2018.
Why was the General Data Protection Regulation created?
The idea was to create a single set of rules which would make it easier to conduct your business in the EU. Even organizations that reside outside the EU are subject to this regulation if they collect personal data from EU residents.
What is personal data? This includes any information that relates to a person which is a member of the EU. The identification factors include online identifies, location data, ID number, name or any other type of factor like social identify, mental or genetic identification. Things like the IP address or website cookies can also be seen as personal data too.
The retention time for contact information and personal data is changed too. The citizens whose data is acquired have the right to question and even fight decisions related to their personal data. The data controller recommends that all data protection measures should be a part of the business process.
Lawful basis for processing
According to the GDPR, data can only be processed if you have a lawful basis for that. The lawful basis includes things like consent from the data subject for example. Moreover, another lawful basis can appear when the process is mandatory for contract performance, legal obligation compliance, for vital interests of the data subject, for the legitimate interests of the controller or any other third party.
Unlike all previous regulations, the General Data Protection Regulation requires consent for all data collected by any company. And yes, the data subject has Right of Access, which means he can easily access for access to his data whenever that’s needed.
What happens if the General Data Protection Regulation is not applied properly?
Your business can receive multiple sanctions. These include things like a warning in writing for the first time you are non-compliant. Regular periodic data protection audits can also be forced on the company. However, your business can also deal with fines of up to 10-20 million Euros depending on the level of infringement and other factors.
As you can imagine, this leads to lots of challenges to payroll management and other business factors. If that happens, Payroll Service is here to help. We can make payroll management smoother for your business, and we are bringing you complete solutions that you can rely upon. Once you hire us, you will be more than impressed with the results and value offered by our business, so give us a try right away to receive the best, GDPR compliant payroll services!