The Victorian Public Record Office holds Railway employee records from 1859 to 1990. However, in order to locate Railway ancestors’ records it is generally necessary to know the branch where they worked. The Triennial List of Railway Employees published in the Victorian Government Gazette provides this information as well as their Departmental Number, Name, Branch, Position, Date of Birth, the Date of Entry (to the Railways) and their Salary as at the date of publication. The list was published from 1884 until 1929.
The employee list is not indexed, however it is usually the first item in the Gazette and is published alphabetically which makes it easy to find an ancestor’s name. Anne’s Family History Blog at http://ayfamilyhistory.blogspot.com.au/2014/04/r-is-for-railways.html provides a table of references for each triennial list with links to the relevant Gazette pages for the years from 1893 to 1929.
Once you have the Branch you can then locate the relevant file/s in the online catalogue at the Victorian Public Record Office.