What is Fixed Term Employment Agreement and why is it important?

Fixed-term employment agreement is a type of agreement in which a company or an enterprise hires an employee for a specific period of time depending upon the requirement of their work. In most cases it may be for a year and renewed after the term expires depending on the requirement of the organisation and its work.

In a fixed-term employment agreement, the employee is not on the payroll of the company. However the employer may offer permanent employment on the basis of this. Fixed Term Employees in many ways are treated in the same position like a permanent employee and also enjoy similar benefits like exclusive packages, protection against unfair dismissal and equal pay. Thus, to maintain the transparency of employment relationship at both ends it is very essential to have documentation of the fixed term agreement that has a legal binding attached.

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