When an employer decides to hire an employee, an Employee Contract is whipped up to create a legal and binding arrangement between the two. Employment Contracts greatly differ from country to country depending on their own Labor Code and are vital to ensuring the safety and protection of a worker and the company being worked for.
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An Employee Contract is an agreement between an employer and an employee. This contract is a written and legal document that states specific terms and conditions expected of both the employer and employee. Drafting these types of contracts provide a means of protection and security among both parties and creates a certain degree of formality between the employer and the employee.
An Employment Contract will require the details of the company or the organization as well as the employee’s full name.
It is necessary to state the exact date the employee started working for the company to avoid restraint of trade or non-disclosure disputes that might arise.
The contract will also have to indicate the employee’s job title along with an enumeration of his core responsibilities at work.
It is important to state the number of hours expected of an employee to work, the time and days expected of them to report in and out of work, overtime compensations, and the corresponding rules for tardiness and absences.
Employment Contracts have to specify in detail the monthly salary an employee earns, deductions, incentives, schedule of cut-offs, and dates as to when pay will be given.
Some companies opt to put employees on probationary status for a period of time. In cases like these, employers must indicate the period of time until he becomes a regular employee.
It is also important to disclose certain evaluations being done monthly, quarterly, or annually and the corresponding increase of salaries and incentives for good performance.
Employees missing out on work can cause an encumbrance to the employers. Stating certain rules on attendance, non-attendance, and the number of leaves available in a month or a year will help guide employees regarding attendance concerns.
As an employer, you have the right to maintain the confidentiality of your trade and protect yourself and your company from information breach by disallowing employees from divulging important and confidential information, such as secrets of the trade, or working for a rival company for a given period of time, usually after a year or two.
Of course, some Employment Contracts may contain more varied or specific details that were not stated in previous or other Employee Contracts.
No matter how much you want to maintain a secure employer-employee relationship, there are some situations that are beyond your control and will require a termination of the Employee Contract. When an employee fails to perform well or if the company needs to let go of people due to financial disability, you will need to issue a letter of termination to nullify the Employment Contract.