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A contract of employment is a bilateral agreement for the exchange of service and remuneration for a given period of time. It is just like any other contract which involves essentials such as an offer, acceptance, consideration, competent parties, legal object and free consent.
An employment contract is a document binding the parties in an employer-employee relationship.
Generally, the employer and the employee sign a letter of appointment prior to signing of a formal employment contract to cover the period of probation unless a person employed is confirmed by the employer.
An employment contract generally includes:-
An employment contract is an agreement between an employer and an employee, signed by both the parties that sets out both the responsibilities and rights of the two parties, that is, company and worker.
Also known as a contract of employment or employment agreement, it lays out the rights and responsibilities of both an employer and an employee.
Following specifications can be included in it:
Information sheet to be filled
You will be asked to fill it after making payment or email it to us
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Employment Agreement is a necessary instrument while hiring any employee or consultant as it defines and addresses all the terms and conditions governing employment comprehensively plus the rights and duties of each concerned party to it.
Common points would be Breakdown of Salary, Notice Period, Date of Joining and Non-Compete Clause.
Following are the benefits of having it :-
1. It minimizes the Risk by protecting the rights of both employers and employees. 2. It sets the expectation of an Employee psychologically and creates a sense of respect for the terms mention in it. 3. The contract defines the responsibilities and expectations of both the Parties.