{"id":148,"date":"2019-06-26T10:33:56","date_gmt":"2019-06-26T05:03:56","guid":{"rendered":"https:\/\/aktassociates.com\/blog\/?p=148"},"modified":"2020-01-15T16:51:10","modified_gmt":"2020-01-15T11:21:10","slug":"employment-contract-benefits-drawbacks","status":"publish","type":"post","link":"https:\/\/aktassociates.com\/blog\/employment-contract-benefits-drawbacks\/","title":{"rendered":"Employment Contract Benefits &#038; Drawbacks"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_66_1 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >In this article, we will discuss about...<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #1e73be;color:#1e73be\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #1e73be;color:#1e73be\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/aktassociates.com\/blog\/employment-contract-benefits-drawbacks\/#What_is_Employment_Contract\" title=\"What is Employment Contract?\">What is Employment Contract?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/aktassociates.com\/blog\/employment-contract-benefits-drawbacks\/#Contents_of_the_Employment_Contract\" title=\"Contents of the Employment Contract:-\">Contents of the Employment Contract:-<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/aktassociates.com\/blog\/employment-contract-benefits-drawbacks\/#Why_is_an_Employment_contract_important\" title=\"Why is an Employment contract important?\">Why is an Employment contract important?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/aktassociates.com\/blog\/employment-contract-benefits-drawbacks\/#Is_employment_contract_needed_for_all_employees\" title=\"Is employment contract needed for all employees?\">Is employment contract needed for all employees?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/aktassociates.com\/blog\/employment-contract-benefits-drawbacks\/#Benefits_of_Contract_Employment\" title=\"Benefits of Contract Employment\">Benefits of Contract Employment<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/aktassociates.com\/blog\/employment-contract-benefits-drawbacks\/#Drawbacks_of_Employment_Agreement\" title=\"Drawbacks of Employment Agreement\">Drawbacks of Employment Agreement<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/aktassociates.com\/blog\/employment-contract-benefits-drawbacks\/#Who_can_be_said_an_Employee\" title=\"Who can be said an Employee?\">Who can be said an Employee?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/aktassociates.com\/blog\/employment-contract-benefits-drawbacks\/#What_about_the_employees_for_Probationary_Period\" title=\"What about the employees for Probationary Period?\">What about the employees for Probationary Period?<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_is_Employment_Contract\"><\/span><strong>What is Employment Contract?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">It is an agreement of employment condition between the employee and employer. This <a href=\"https:\/\/aktassociates.com\/blog\/development-agreement-advantages-implementation\/\" target=\"_blank\" rel=\"noopener noreferrer\">agreement<\/a> can be either oral or written and it includes both implied and expressed terms. The employer and employee are free to negotiate over the terms of the contract but they must keep in mind that the terms of the contract must not violate the provisions of employment ordinance.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">An\u00a0<\/span><b>employee agreement<\/b><span style=\"font-weight: 400;\"> is a traditional document used in relationships between employees and employers for the purpose of laying out the rights, responsibilities, and obligations of both parties during the\u00a0<\/span><b>employment<\/b><span style=\"font-weight: 400;\">\u00a0period.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-542 aligncenter\" src=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/06\/Employment-Contract.jpg\" alt=\"Employment Contract\" width=\"700\" height=\"400\" srcset=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/06\/Employment-Contract.jpg 700w, https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/06\/Employment-Contract-300x171.jpg 300w, https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/06\/Employment-Contract-20x11.jpg 20w\" sizes=\"(max-width: 700px) 100vw, 700px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Contents_of_the_Employment_Contract\"><\/span><b>Contents of the<\/b> <b>Employment Contract<\/b><b>:-<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Name of Employer;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Name of Employee ;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Location of Employment;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Job title of the Employee ;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Location of work ;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Start date ;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">End date ;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Working hours and details about the overtime pay ;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Pay and frequency of payment settlements such as bonus scheme, health insurance, use of a company car, \u00a0 payment of tuition fees for upcoming education, etc;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Holiday entitlements Details of any sick pay scheme (though sick pay is not required to be paid under current legislation) ;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Details of pension scheme Minimum notice to end the employment relationship that must be given by both the employer and the employee.<\/span><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Why_is_an_Employment_contract_important\"><\/span><strong>Why is an Employment contract important?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Before the term of employment begins the employer must make the employee aware of the work and work environment he would be dealing with after joining the job. However, there is a body of statute law which deals with specific aspects of the critical relationship between employer and their employees, such as minimum notice, minimum redundancy payments also annual leave and special leave entitlements.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Is_employment_contract_needed_for_all_employees\"><\/span><strong>Is employment contract needed for all employees?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">As per the Basic Conditions of Employment Act, all employees should be provided with a written document which outlines the terms of their employment (along with details like the job description, salary details, and other information) on the very first day of employment.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">When a new member is employed, you must inform him the exact job description, working hours and the exact salary the person will be earning from the beginning or on the later stage it might invite conflict so anyways you need an employment contract for all employees.<\/span><\/p>\n<h2><a href=\"https:\/\/aktassociates.com\/start-your-business-in-india\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-3327\" src=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2020\/01\/Concept-of-Business-trust-and-its-taxation-2-1.jpg\" alt=\"Start Your Business\" width=\"700\" height=\"150\" srcset=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2020\/01\/Concept-of-Business-trust-and-its-taxation-2-1.jpg 700w, https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2020\/01\/Concept-of-Business-trust-and-its-taxation-2-1-300x64.jpg 300w, https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2020\/01\/Concept-of-Business-trust-and-its-taxation-2-1-20x4.jpg 20w\" sizes=\"(max-width: 700px) 100vw, 700px\" \/><\/a><\/h2>\n<h2><span class=\"ez-toc-section\" id=\"Benefits_of_Contract_Employment\"><\/span><b>Benefits of Contract Employment<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Abundance of work<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Less competition<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Higher gross salary<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Flexibility<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Continuous growth<\/span><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Drawbacks_of_Employment_Agreement\"><\/span><b>Drawbacks of Employment Agreement<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Job rigidity<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Tax information disclosed<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Creating a brand<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Burden<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Time management issue<\/span><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Who_can_be_said_an_Employee\"><\/span><strong>Who can be said an Employee?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">These contracts are governed by the law, making it important for employers to understand the legal definition of an employee. The Labor Relations Act defines the term employee in the following words:<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cAny person, excluding an independent contractor, who works for another person or for the State and who receives, or is entitled to receive, any remuneration; and<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Any other person who in any manner assists in carrying on or conducting the business of an employer.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In simpler words, anyone who works for the business and gets paid for it should be considered as an employee \u2013 this also includes part-time members of staff but precludes independent contractors. Example: outsourced service providers.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_about_the_employees_for_Probationary_Period\"><\/span><strong>What about the employees for Probationary Period?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">When a person is employed for a probationary period some employers assume that they don\u2019t have to sign an employment contract until and unless the probationary period is over. However, this is not the case. They just need to insert a clause about the same.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>What is Employment Contract? It is an agreement of employment condition between the employee and employer. This agreement can be &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"Employment Contract Benefits &#038; Drawbacks\" class=\"read-more button\" href=\"https:\/\/aktassociates.com\/blog\/employment-contract-benefits-drawbacks\/#more-148\">Read more<span class=\"screen-reader-text\">Employment Contract Benefits &#038; Drawbacks<\/span><\/a><\/p>\n","protected":false},"author":4,"featured_media":325,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Employment Contract | Benefits &amp; Drawbacks AKT Associates<\/title>\n<meta name=\"description\" content=\"This articles Defines the employment contract: Oral or written, express or implied, agreement specifying terms and conditions under which a person consents to perform a specific job. 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It is also termed as Employee agreement. 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