The Redundancy Agreement is a crucial legal document used in Pakistan when terminating employment due to organizational restructuring, economic conditions, or operational changes. It serves as a formal record of the mutually agreed terms of separation between employer and employee, ensuring compliance with Pakistani labor laws, including the Industrial and Commercial Employment (Standing Orders) Ordinance, 1968, and the Industrial Relations Act, 2012. This document typically becomes necessary during company reorganizations, downsizing initiatives, or when positions become redundant due to technological changes or economic circumstances. The agreement protects both parties by clearly stating all financial entitlements, ongoing obligations, and terms of separation, while providing a framework for amicable termination that minimizes the risk of future disputes.
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1. Parties: Identification of the employer and employee, including full legal names and addresses
2. Background: Context of the redundancy situation, including brief employment history and reason for redundancy
3. Definitions: Key terms used throughout the agreement, including 'Termination Date', 'Redundancy Payment', and other relevant terms
4. Confirmation of Redundancy: Formal statement of redundancy, including the effective termination date
5. Final Payments: Details of all payments due, including salary, notice pay, and statutory redundancy payment
6. Tax and Deductions: Information about tax treatment of payments and any applicable deductions
7. Company Property: Requirements for returning company property and timeline for return
8. Confidentiality: Ongoing obligations regarding confidential information
9. Full and Final Settlement: Confirmation that the agreement represents full and final settlement of all claims
10. Governing Law: Specification that Pakistani law governs the agreement
11. Execution: Signature blocks and execution formalities
1. Garden Leave: Include when employee is placed on garden leave during notice period
2. Outplacement Support: Include when company offers career transition services
3. Reference: Include when agreeing to provide employment references
4. Medical Benefits Continuation: Include when extending medical coverage post-termination
5. Non-Competition: Include when implementing post-employment competition restrictions
6. Assistance with Handover: Include when specific handover duties are required
7. Share Options/Awards: Include when dealing with existing employee share schemes
8. Legal Costs: Include when employer agrees to contribute to legal costs
1. Schedule 1 - Calculation of Payments: Detailed breakdown of all payments including basic salary, notice pay, statutory redundancy pay, and other benefits
2. Schedule 2 - Company Property List: Itemized list of company property to be returned
3. Schedule 3 - Employee Benefits Statement: Statement of benefits and their treatment post-termination
4. Appendix A - Release of Claims: Detailed terms of the release of claims against the employer
5. Appendix B - Handover Checklist: List of tasks and responsibilities to be handed over before departure
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