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A bilateral agreement for the exchange of service and remuneration for a given period of time is Employment Contract. It is just like any other contract which needs to have essentials such as an offer, acceptance, consideration, legal object, competent parties and free consent to classify it as a valid agreement.
An employment contract is a document binding the parties in an employer-employee relationship.
Generally, a letter of appointment is signed by both the parties i.e. employer and employee prior to the signing of a formal contract to cover the period of probation unless a person employed is confirmed by the employer.
An employment contract generally includes:-
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You can form an employment contract in Mumbai with the help of Company Vakil.
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.
An employment agreement in Mumbai or contract of employment, it lays out the rights and responsibilities of both an employer and an employee.
Following specifications can be included in it:
All the Documents are required only in scanned form. You can attach the document in the form after payment or email it to us on email@example.com. Feel free to get in touch for any query.
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 mentioned in it.
3. The contract defines the responsibilities and expectations of both the Parties.