What is Permanent Employment Agreement?

Permanent Employment Agreement refers to the agreement where the Employee renders services to the Employer and is directly paid for it. Permanent Employees popularly known as full time employees do not have any pre-fixed date to put an end to the employment and are entitled to receive many benefits. These agreements provide an ulterior advantage and are subject to many kinds of benefits like regular allowances, fixed working hours, fixed salaries, insurance benefits in terms of health, accident, dental etc.

Why needed ?

These agreements are usually long term agreements and create a permanent job which eludes the risk of uncertainty and provides for post-retirement benefits like EPF (Employees’ Provident Fund) which helps in taking care of needs and necessities even after retirement.

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