An employment contract is a legally binding agreement between an employer and an employee that outlines the terms and conditions of employment. It serves to protect the rights of both parties and to clearly define expectations and obligations.
Names and addresses of the employer and employee.
• The employee’s role or title.
• Duties and responsibilities.
• Start date of employment.
• Whether the contract is permanent, fixed-term, or temporary.
The duration of the loan, specifying when the loan must be repaid in full.
• Primary work location.
• Any mobility or remote work requirements.
• Salary or hourly wage.
• Payment frequency (e.g., weekly, monthly).
• Bonuses, commissions, or incentive schemes.
• Health insurance, pension contributions, paid leave (holiday, sick leave, parental leave).
• Any other perks (e.g., company car, gym membership).
• Duration of probation.
• Terms for extension or termination during this period.
• Required notice for termination by either party.
Restrictions on sharing company-sensitive information.
• Limitations on working with competitors after leaving the company.
• How workplace and performance issues are handled and resolved.
• Ownership of work created during employment.
• Which country’s laws govern the contract.
Having a clear and comprehensive employment contract helps: