Advantages and Disadvantages Of Mandatory Provident Fund

Entering a contract with an employer can have a lot of legalities. However, having a valid contract will ensure you of your protection for having a continuous job and at the same time ensure your employer of your loyalty and commitment to his or her company. An mpf for example can give you a lot of different benefits in accordance to your liking. You may choose to bargain of the incentive that you could receive in case you continue working for the same employer. Employers know what are best for their companies and they would do anything more or less to please their employees so that their company would also become a productive institution as well.  

 These agreements or contracts would mainly include various forms of motivations to entice or persuade individuals. It could be in a form of bonuses, severance pay, possible stock options, among many others. If you are an employee, becoming well informed about the different parts of a contract could help you learn more of your rights, your different duties and obligations and the different accountabilities of the company you are working for to you.

 By perusing it carefully, you will also be able to know your different limitations and possible claims in case of termination. Here are the usual provisions included at the contract:

·         Terms of Agreement. In here the termination of employee’s employment is mainly discussed, which includes the different obligations of both parties in case of change of control.

·         At-Will Employment. In here more specifications are included in accordance to the defined applicable laws of the employer. It would also comprise of the different existing practices of the employer when it comes to agreements.

·         Definition of Terms. In here various terms are specified such as what could be the possible employment effects in case of change of control and the possible causes that you could commit that would result to termination.

·         These contracts would also include the different Separation Benefits that you could receive in case of Involuntary Termination. 

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