In order to run a business professionally or have some guarantees for your finances it's very important to have staff contracts in place that can dictate agreements like salary, the duties that an employee is responsible for and more. Every employee needs to have at least some form of contract in place as they are working within their position throughout a company.
An employer and staff contract works as an ongoing record between an employer and their employees. A contract sets out a variety of conditions for employees including the conditions of their employment, their rights in the workplace, their duties and their responsibilities.
Both employees and employers need to stick to the contract until the contract is ended. Usually employment contracts last up until a time where an employee is dismissed or until the terms are changed. Employment contracts could be revisited every year in an effort for employee to expand their duties or access items like a raise.
Usually employment contracts are delivered in a written contract with a statement of employment as well as a verbal agreement between the employer and the employee based off of the conditions found in the contract itself.
While an employment contract is often an implied item for many businesses, having a general term or means of employment can be very important in a federal court of law as well as for taxation purposes. When filling in new positions, hiring professionals and recognizing the value of an employee's work, these types of contracts can be indispensable. An employer staff contract may be looked upon from the perspective of government taxes.
A great example of one of these contracts could be one of the IT professionals in a business getting paid significantly more than other employees. Without an employment contract the extra experience that they have or the extra duties that they are taking on our unlogged and this can present a potential cause for an audit. If there is no employee contract on hand, this could result in extra taxes that may need to be paid out on the part of the company or an employee that is constantly investigated for misrepresenting their earnings.
As a group of tax and employment experts we can help you with putting together an employer staff contract. We want to make sure that you can log all appropriate information as part of your company. Contact our employment experts today and we can work at handling your employer staff contracts now.
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