An Employment Contract, also known as an employment agreement, is a document that outlines the rights, responsibilities, and obligations of an employer and employee. For instance, this agreement typically contains information about wages, benefits, hours, and job responsibilities. It is a written agreement that has been agreed upon by an employer and their employee which outlines the terms and conditions of employment.
Types
Full time: A full-time employee typically works more than 30 hours a week and receives benefits that other employees don’t.
Part-time: A part-time employee typically works less than 30 hours a week with a guaranteed minimum number of work hours.
Casually: A casual employee doesn’t have a guaranteed minimum number of hours but works as needed.
What should a contract of employment include?
Typically, the information you need to write an Employment Contract includes:
- Party details: List the employee’s and the employer’s name and contact information. Include the place of employment’s address as well.
- Job description: Describe the position title, initial duties, and obligations. If there is a probationary period, specify its length.
- Remuneration: Explain how you will pay the employee (e.g., an hourly wage, salary, commission, or a combination of payment types), overtime payments, and pay periods.
- Work hours and leave: State the employee’s regular hours of work and their annual leave entitlements (i.e., vacation or sick days allotted per year).
- Post-employment restrictions: Prevent the employee from sharing confidential information or recruiting the employer’s current employees or contracts. These restrictions typically go into effect after the employee leaves the company.
- Termination notice periods: Specify how much notice the employer or employee must give to terminate the employment agreement.
Approx. Costing for Documentation
Pricing for the documents varies from agreement to agreement. It is not fixed. There are many factors on which the pricing is decided. For example; the size of the agreement, complexity of agreement, ETC. Approx. pricing starts from Rs.10,000/- to Rs.15,000/-
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