Timer/counters on the 8051 microcontroller can be used for time delay generation, event counting, and baud rate generation. The 8051 has two timers/counters: timer/counter 0 and timer/counter 1. They can operate in different modes like 13-bit timer, 16-bit timer, 8-bit auto reload, and split timer. Special function registers like TMOD, TCON, TH0, TL0, TH1, TL1 are used to control the timers. The timers can be clocked from the internal oscillator or an external source and generate interrupts on overflow. Programs examples are shown to generate square waves and interface with a buzzer using timers.