What is an employment contract?

What is an employment contract?

December 16, 2019

An EmploymentContractis a legal document that outlines the terms of employmentbetween an employer and an employee.  It is signed between an employee and an employer and It establishes both the rights and responsibilities of the two parties: the worker and the company. It contains the following; Names of the employer and employee, address of employment, Job title and description of employment duties, salary, expenses, hours worked each week, time off work, pension details, probationary period, performance assessments, term of employment, deductions, confidentiality/restrictive covenants, grievances, notice for termination of contract and other Clauses.

In a nutshell, an employment contract is beneficial to both the employee and the employer. It spells out the rights and obligations of each party, protects the job security of the employee and protects the employer from certain risks such as the release of confidential employer information after the term of employment ends.

 

 

618 Bees can help you quickly and easily help you draft an employment contract. Log on to our website www.618bees.com or email hello@618bees.com, or give us a call on +2349017190079.

 

 

The information in this blog post (“post”) is provided for general informational purposes only, no information contained in this post should be construed as legal advice, nor is it intended to be a substitute for legal counsel on any subject matter. No reader of this post should act or refrain from acting on the basis of any information included in, or accessible through this post without seeking the appropriate legal or professional advice from the particular facts and circumstances at issue from a lawyer. This post is protected by intellectual property law and regulations. It may however be shared using appropriate sharing tools provided that our authorship is always acknowledged and this Disclaimer Notice attached.

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Frequently Asked

  • When are Annual Returns due for filing?

    A company’s first Annual Returns are due for filing after 18 months of its inception, subsequently it should be filed annually as the name implies. The filing dates could differ for each company depending on their financial year end but must be filed not later than 42 days after its Annual General Meeting.

    The Annual Returns for Business Names is due not later than the 30th of June each year except in the year the business was registered.

  • What is the first thing I must do to register a business in Nigeria?

    To register a business in Nigeria; you would need to conduct a name search of the business. You can achieve this using your CAC-CRP account.

  • What are the terms of a contract?
    • an offer and an acceptance.
    • competent parties
    • Consideration
    • Legal subject matter
    • Mutual agreement/ Assent
    • Conesus ad idem
    • Obligation
  • Is there a penalty for late renewal of registration of products with NAFDAC?

    Yes, there is a late renewal fee, which is dependent on the category of the product.

  • What is classified as personal data?

    Name, photograph, personal health/bio information, account/financial information, phone number, Address, date of birth, place of birth, Email address, etc.

  • How long does the registration of an industrial design last?

    It is effective for an initial period of 5 years from the date of the application for registration and renewable for two consecutive periods of 5 years

  • Can I process/register multiple products at NAFDAC at the same time?

    Yes, you can process/register multiple products at the same time

  • What’s the difference between a business name and an LLC?
    • A business name is a sole proprietorship, usually owned and managed by one individual only. Legally, the sole proprietor and his business are one. It simply means an individual trading with an alias. The sole proprietor is personally liable for all business related obligations.

    • A limited liability company on the other hand is a separate business entity from the individuals that hold its shares and act as directors. Legally, it’s a separate business entity and a person on its own who can transact business, own property separate from its owners and can sue or be sued. 

  • Can I trademark my logo and name separately? Why is this a good idea?

    Yes you can. The advantage is that it gives you the opportunity to have more than one logo or the opportunity to change your logo easily as opposed to registering the name and the logo as one trademark.

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