An employer shall keep, for at least 3 years, in or about its place of business, records of the employer containing the following information: the name, address, occupation, and classification of each employee or independent contractor; the rate of pay of each employee or method of payment for the independent contractor; the amount that is paid each pay period to each employee or, if applicable, independent contractor; the hours that each employee or independent contractor works each day and each workweek; for all individuals who are not classified as employees, evidence that each individual is an exempt person or an independent contractor or its employee; and other information that the Commissioner requires, by regulation, as necessary to enforce this subtitle. An employer shall provide each individual classified as an independent contractor or exempt person with written notice of the classification of the individual at the time the individual is hired. The written notice shall: include an explanation of the implications of the individual’s classification as an independent contractor or exempt person rather than as an employee; and be provided in English and Spanish. The Commissioner shall adopt regulations establishing the specific requirements for the contents and form of the notice. If an employer fails to provide notice under subsection (b) of this section, the Commissioner may assess a civil penalty of not more than $50 for each day that the employer fails to provide notice.