Job satisfaction is the basic need of any employee and this is where an Employment Contract comes into picture. An Employment Contract is a signed agreement between the employee and employer. It states and defines the rights and responsibilities of both the worker and the company.
An employment contract specifies the relationship between the two parties and also includes compensations and expectations. It is necessary to have a contract when hiring an employee whether part time or permanent as it specifies the date of joining, salary, notice period etc.
What are the components of an Employment Contract?
The Employment Contract lays down the following agreements-
Advantages of Employment Agreement-
How is an Employment Agreement made?
Drafting an employment agreement is a very easy process and can be done easily at the time of joining.
An employment contract or contract of employment is a kind of contract used in labour law to attribute rights and responsibilities between parties to a bargain. The contract is between an employee and an employer.
All employment agreements are legally binding on the employer and, therefore, employers are best served by having them drafted and reviewed by an experienced employment law attorney.
A contract of employment is a legally binding agreement between you and your employer.
Most employment contracts do not need to be in writing to be legally valid, but it is better if they are.
A contract of employment protects the employer as it regulates the behaviour of the employee in the workplace. This is important because all company policies as well as an employer's disciplinary code, should form part of the contract of employment.
All employees regardless of the number of hours they work per week, are entitled to receive a written statement from their employer within two months of starting work. The statement should describe the main terms of the contract of employment.
a. Full-time and part-time contracts.
b. Fixed-term contracts.
c. Agency staff.
d. Freelancers, consultants, contractors.
e. Zero hour contracts.
The purpose of an employment contract is to ensure that both you and your employer have a clear understanding of what is expected during the term of employment. It will also serve to eliminate any disputes which may arise
A breach of the contract happens when either you or your employer breaks one of the terms.
Changes to employment contracts could be made by agreement between you and your employer.