Employment Contract Document – Safeguarding Interests of Employees and Employers
In today’s world, every important event of life needs to be documented and legalized. Birth, marriage, buying or selling property, employment, death – there needs to be a legal record for all of these as any discrepancy in the records can lead to serious problems and a lot of unwanted hassles. It is common knowledge that those who have their records in order, face less hassles compared to those whose records are either incomplete or improper. A contract is an important document that mentions all the terms and conditions and any violation of these can lead to legal actions being taken against the violator. An employment contract is such a legal document which specifies the understanding between the employee and the employer.
After a candidate has successfully cleared all the levels of interviews and submitted all necessary documents, the employer prepares an employment contract. It contains all the details about the financial remuneration, working-hours policy, leave policy, non-compete policy, confidentiality agreement and benefits like various insurances and allowances. After the candidate agrees with all terms and conditions mentioned in the employment contract, he or she signs the document and becomes the employee of that company.
A look at an employment contract sample will tell you that it is not only meant to guard the interests of the employees, but it also safeguards the employer company against any clashes with its own employees. If any employee breaches any of the terms of the employment contract, the company is free to take any legal action against him or her and can even terminate his or her employment. On the other hand, if the employer does not follow the terms mentioned in the contract, an employee has full legal right to take his employer to court. Either way, both the interests of the employee and the employer are safeguarded by an employment contract. So, it is very crucial for any candidate to fully understand every word of the employment contract before signing it. Every confusion or doubt should be cleared before signing the document.
The preparation of an employment contract is tricky and requires meticulous attention to minute details. It is the job of a lawyer to prepare an employment contract sample at first and get it approved from its client. If the client company is not satisfied, the document subsequently goes through several rounds of revision before the final one is prepared. You can also take a look at an employment contract sample online and get an idea. Small firms often use these online samples with little modifications to suit their needs. Bigger corporations and multinationals however choose to hire professionals. It must be noted that the terms of the employment contracts differ for different levels of employees, for instance the terms and conditions of the employment contract of a junior associate will not be the same as that of the senior project manager, though the basic points and the format may remain the same. Additionally it is also different for permanent and contract employees. In a nutshell, the employment contract is a very important legal document and eyes and earns should be kept wide open while preparing or signing it.
Employment Contract Sample from google images