Question

Suppose Mr. Jacobs is a successful candidate. Draw up his employment contract and

include any FIVE aspects of the employment contract.​

Answer 1

Answer:

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Answer 2

Answer: This Employment Agreement is made as of this 14 day of May 2022 by and between Mr Jacob and XYZ Co., (each, a “Party” and collectively, the “Parties”). The Parties agree and covenant to be bound by the terms outlined in this Agreement.

Explanation:

• Employment: Employer shall employ Employee as an Administration Executive on a full-time basis under this Agreement.
• In this capacity, the Employee shall have the following duties and undertake the following responsibilities:

1. Maintenance of records.
2. General Administration tasks.
3. Organizing events, meetings, etc. with

• Employee will execute any other duties that are typically undertaken by others in comparable positions, as well as any other duties that may be assigned from time to time.
• Performance of duties: Employee must carry out assigned duties and responsibilities professionally, in good faith, and to the best of his/her abilities, talents, and experience.
• Probation Period: The employee’s probation period shall be six months starting from the first day of the Employee’s employment.
• If Employee fails to pass the probation period, Employer may terminate this Agreement immediately by giving notice to Employee.
• Compensation:
• Base Salary: As compensation for the services provided by Employee under this Agreement, Employer will pay Employee 5000/-per month.
• The amount will be paid to Employee on the 5th of every month.
• Employer is obligated by law to deduct or withhold all federal income and social security taxes, as well as state and local taxes.
• Overtime: Employee shall receive overtime compensation of 100/hr for each hour worked: beyond 15 hours in a week.
• For services performed as a salaried or exempt employee, the employee is not entitled to overtime pay.
• Ownership of Work Product: Employer owns all work product, information, and other materials created and developed by Employee in connection with the execution of his or her duties and obligations under this Agreement, as well as any resulting intellectual property rights.
• Termination: This Agreement may be terminated immediately by the Employer for cause or in the event employee violates any provision of this Agreement.
• Employer’s Termination: The Employer may terminate this Agreement and Employee's employment:
• _ in line with applicable local, state, and federal labour laws, at any time and for any reason.
• _ at any time by giving Employee written notice of ___ days.
• During the notice period, Both the employee and the employer commit to continue doing their utmost to fulfil their duties and obligations in good faith.

• ______ Signature of the Employee
• ______ Date
• _______ Signature of the Employer
• _______ Date

Hence, An employment contract is an agreement between a corporation and an employee that outlines the employee's role, responsibilities, compensation, and benefits.

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