An Employment Agreement is an agreement signed between Employer and Employee. This is an agreement which defines Right and duties to the both parties (Employer and Employee). It is also known as Employment contract, Job contracts which specifies the condition of the relationship between an employee and employer including compensation and expectations. It is a traditional vital document used by the employer which will allow an employer to solidify the organizational relationship with employees to make certain condition which defining the salary, benefits,job duties, work schedule, vacation allotment and confidentiality.
Necessity of Employment Agreement
A written agreement is a great way to clearly define the description of job. Employment agreement or employment contract is a written document that states the provision relating to employment of a person which establishes the trust between employee and the organization. A well defined agreement of employment not only bound the liability of the company but also creates sound relationship between both parties.
A signed employment agreement legally bound the both parties (employee and employer) on the clauses mention in it.
Key Elements Covers in Employment Agreement
The employment may be subject ti the terms and conditions of the applicable Factories Act or Shops and Establishment Act depending upon the nature of activity carried on by the employer.
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