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The Ins And Outs of Contracts

Posted on February 11, 2021 in Firm News

Back again with blog number three regarding Contracts, specifically employment agreements, these contracts are written to include terms that protect both the employer and employees. We may all be faced with this type of contract one day. Below is a list of what to expect in the contract:

 

1)   Name of employer, name of employee, and company name

2)   When you will start working at the company

3)    Your job title

4)  A list the duties that the employer expects of you.

5)   Details of the company and the company’s standards

6)   How many hours you will be working and payment terms

7)   Any deductions from your pay that may occur

8)   When you will be paid

9)  Details regarding the termination of employment

 

An Employment Contract is written so everyone involved understands what is expected. The employer and employee should both keep a copy of the contract. That allows both sides to review their duties.

 

There are three types of Employment contracts. They are permanent employment, temporary employment, and independent contractor. Here is a brief description of each one..

 

Permanent employment:

This is a long-term position. This position will be filled by the stated employee. The employee will remain in that position unless other circumstances arise. Employment may end when the employee or employer are not fulfilling their portion of the contract.

 

Temporary employment:

Temporary employment is for a year or less. These contracts occur in construction or seasonal jobs that require a temporary position. After the job is completed, the employee may not be needed again, and the employee will need to search for other employment.

 

Independent contractor:

This contract is based on the “hired individual.” The hired individual is someone who has expertise in an area and works for themselves. They go from job to job and are hired for a specific purpose.

 

When you are hired for a new job be aware of the different types of contracts you may have to sign as each brings with it various pros and cons.

 

If you have any other questions on Employee Agreement Contracts, please contact Ken Ashworth and Associates at (702)893-9500.