employment contract

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Related to employment contract: employment agreement

employment contract


employment contract

a CONTRACT between an EMPLOYEE and the company for which he or she works, specifying the terms and conditions governing his or her employment. Employment contracts of directors and senior executives are called service contracts, and these often contain provision for generous severance payments in the event of early dismissal.

The employment or labour contract between an employee and the firm that employs him or her generally specifies that the employee undertakes specific tasks for the firm in return for a WAGE. While the wage paid to an employee is a clearly definable part of the labour contract, the level of skill exercised by an employee and the amount of effort he or she exerts in working is more difficult to specify and measure. Consequently, labour contracts are subject to possible contract problems, such as ADVERSE SELECTION and MORAL HAZARD, and may involve significant AGENCY COSTS.


References in periodicals archive ?
Pursuant to the above, provisions of law it may be noted that, if your employment contract is of limited duration, you may have to compensate your employer for an amount which may be equal to your remuneration of one to three months' duration.
TAP) - Some 83 job-seekers in Sidi Bouzid governorate have been awarded employment contracts under the "Dignity Contract" programme, said regional director of vocational training and employment, Nizar Khaldi.
if the employment contract is terminated by the employer, whether termination is due to "gross misconduct" on the part of the employee;
Workers should be able to retain copies of the standard employment contract they sign in their countries of origin, contracts should be written in a language they understand, and they should be able to access a grievance mechanism in the UAE that can resolve complaints quickly, and penalise offenders.
However, unethical treatment of employees, non-compete clauses in the employment contracts and the failure to provide the promised benefits often result in employees reluctance to taking up the employment in various companies.
A written form is required for employment contract with a fixed duration of one year or more.
The translation of the employment contract shall include the condition of his employment, the compensation and benefits, period of employment, working hours, health and safety issues, among others," Revilla said.
In its judgement, the court recalls that Belgian law - which transposes amended Directive 96/34/EC on parental leave - provides that any employer who terminates an employment contract when there is no compelling or sufficient reason to do so is required to pay the worker fixed-sum protective compensation equal to six months' salary.
Mark Ridley, partner and employment specialist at Band Hatton Button, said: "We urge all employers to seek legal advice before varying or terminating an employment contract.
The first employment contract stated, among other things, that Khobragade would pay witness-1 the prevailing or minimum wage, whichever is greater, resulting in an hourly salary of $9.
The forum will also discuss detailed aspects of the terms and provisions of the standard contract that include the responsibilities of the employer as stipulated in the employment contract, regarding residency, health care, job descriptions, holidays, the duration of the contract, injury, death, and other obligations and conditions contained in the employment contract for both parties, namely the employer and the domestic worker.
Noncompete clauses (NCCs) in a physician employment contract are contrary to public policy and legally unenforceable.

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