This agreement sets the terms and conditions of employment such as salary, benefits, working hours, duration of employment. It lays down all the rights and obligation of the employee in addition to employee, employer and employment details such as salary, hours of work, probation period etc. In case of any disputes, the terms laid in the agreement is referred to for resolving the issue.
The concerned parties in the agreement have an option of either getting the agreement made on a company letterhead or a non-judicial stamp paper to make it binding . It is advisable use a non-judicial stamp paper for better protection against any legal issue which may arise in future though getting it done on organization's letterhead is sufficient. Make sure the agreement is duly signed by both the concerned parties.Use this agreement if You as an employee have been offered an employment by the employer. You as an employer have just hired a new employee and want to lay down the rights and obligations of the employee.
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