Your company file can become corrupt due to many causes. Hard drive failures and power surges are common causes of file corruption. Accordinly, it's essential that you backup your company file after every session. If you don't have an adequate backup method, in some cases the company file may not be recoverable at all. For these reasons, backup your company file after each session!
If you can open Elite Payroll you may be able to rebuild the company file to a point where it is useable again.
Note Some employees and/or pays may have been deleted if they were corrupt. These employees and/or pays will need to be re-entered once you're certain that there are no more problems with your company file.