When does an employee sign an employment contract?

When an employee gets accepted to work in a company, he must sign an employment contract with his future employer. This legal agreement is a document that establishes and defines the rights and responsibilities of both parties namely the employer and the employee or the worker and the company. 2 What is a contract of employment?

Can a company ask an employee to sign a bond?

Asking employees to sign bond contracts has become a notorious method of decreasing attrition in organisations. The problem, though, is that the law does not permit the legal enforcement of such contracts. This is also common knowledge among employees. Which brings us to the crucial question – “ Do employment bonds really work?”

Can a person sign a contract for a company?

If an employee is only meant to sign on behalf of their company in a specific instance and their belief in implied authority to sign in all instances is to be curbed, drafting a power of attorney to authorize signing is recommended, although this may not be appropriate for all occasions. Signing for a Company

Do you skim and sign an employment contract?

While your prospective employer might pass it off as a formality, you never want to just skim and sign anything without delving into the details.

Are there any issues with signing an employment contract?

That said, at times some issues may arise out of these employment contracts. For instance there are scenarios where one may sign and not fulfil a contract. In this case, signing an employment contract and not starting implies that an employee signed a contract but failed to start the job.

When do you have to sign a new contract?

The Bottom Line. If the original employment contract anticipates changes to the terms of employment and requires you to execute further documents; your employer offers you some consideration for signing a new contract; you agree to sign the contract; and you work under the new terms of employment, you will likely be bound by it.

Do you need witness to sign employment contract?

Once you have accepted the job, there is a legally binding contract of employment between the employee and the employer. It does not need witnesses or their signature to make it valid. 5.

Can You Lose Your job if you dont sign a new contract?

As a current staff, you may be offered a new job contract and asked to sign it by your employer. New contracts come with new conditions or clauses. If you are already a permanent employee, you cannot be forced to sign a new contract, and you cannot lose your job if you do not sign it.

What happens at the end of a 10 month contract?

If a 10-month staff terminates employment during the two months he or she does not work, benefits will end at the end of the 10-month period. Benefits will retroactively be terminated and the employee will be responsible for any bills associated with the termination of benefits.

What happens if an employee does not understand an employment contract?

If the employee does not understand the written document, the employer must ensure that the stipulations are explained to the employee in a language, and in such a manner that the employee can understand it. The employer must keep the written details of employment for three years after the employment contract has been terminated.

When to give notice when signing a contract?

Most contracts require employees to give one month notice before leaving the job. So in case, the employee is not able to begin the job after signing the contract, they should give notice to the employer. Thus the employee may not be sued for breaching a contract because there was no loss to the company. 2.

When does an employment contract become legally binding?

The standard employment contract template below defines all necessary terms of an employment relationship — terms that become legally binding when signed by the employer and employee. The employment agreement sample below details an agreement between the employer, Susan C Clarke, and the employee, Rudolph M Hettinger.

What do you call a contract of employment?

Also known as a contract of employment or employment agreement, an employment contract lays out the rights and responsibilities of both employer and employee.

How does an employer change the terms of an employment contract?

This often leads to the employer unilaterally changing the terms of employment of an existing contract by adding significant duties or reducing compensation or other benefits. An employer may ask an employee to sign a new contract which introduces more restrictive terms which have not previously been discussed with the employee.

What is the purpose of an employment contract?

An employment contract or an employment agreement is a legal document that defines the bounds of the relationship between the employer and the employee.

Which is the best template for an employment contract?

1. Free Employment Contract Template & Sample (PDF & Word) The standard employment contract template below defines all necessary terms of an employment relationship — terms which become legally binding when signed by the employer and employee.

What are the essential elements of an employment agreement?

Employment agreements are contracts that establish a legal relationship between an employer and an employee who enter into an employment relationship. The essential elements of a contract are: (1) offer; (2) acceptance; and (3) consideration.

What are the different types of contract guarantees?

There are generally 4 types of recruitment agency contract guarantees: Full money back guarantee: A full money back guarantee means your agency would refund your entire fee in the event the candidate left within your negotiated time period.

What do you need to know about a written employment contract?

A written employment contract is a document that you and your employee sign setting forth the terms of your relationship. You don’t have to enter into a written contract with every employee you hire.

What are the guarantees for a recruitment agency?

Pro-rated money back guarantee: With a pro-rated money back guarantee, your agency would refund a portion of their fee, based on the length of employment, if the candidate left your company in the negotiated time period.

Do you have to sign a written contract with an employee?

You don’t have to enter into a written contract with every employee you hire. In fact, written employment contracts are generally the exception, rather than the rule. In some situations, however, it makes good sense to ask an employee to sign a contract. This article explains the pros and cons of using written contracts with employees.

Which is an example of an employment contract?

A good example is seasonal workers, who are only employed a couple of weeks for each year. This type of contract is between the company and an individual with certain skills that the company requires. They engage a consultant’s services, but he isn’t considered an employee but a self-employed person.

Is the NCC part of the employment contract?

The NCC contract can be a separate agreement but is usually part of the employment contract. These may include an ownership agreement, any information about dealing with disputes in the workplace, qualifications where the employee may seek employment after he leaves the company, and others. What is an implied employment contract?

When do You Say you work for a company?

When someone says they work for a company, it implies that they are employed by them, with an ongoing relationship. Working at is used to describe the place of one’s work, including a particular group, organization or company. One can never work at a person. He is working at XYZ Company. (XYZ is where he is working.

Can a company permanently hire a contract worker?

Not so. According to a Talentcor article, almost 85% of companies are adding contract workers to their teams (30% have already done so). And the chances are fairly good that contract-to-hire workers can actually be hired permanently once their contract ends. Employers have their reasons for employing contract-to-hire workers.

When do you need a work agreement with your employees?

If you are running a company, it is essential to have a work agreement with your employees. Generally, employers don’t have enough information about their employees that they may have a fear of leaving their jobs. Therefore, they choose to have an agreement whenever a new employee joins their business.

What is the definition of an employment contract?

What is a Contract of Employment? An employment contract (or employment agreement) defines the terms of a legal binding agreement between an employee and employer such as compensation, duration, benefits, and other conditions of the employment relationship.

When does an employment contract come into force?

An employment contract comes into force as soon as someone starts working for you, so essentially, a contract exists irrespective of any documentation. What you must provide by law, to all employees employed for more than a month, is a written statement documenting the key terms that have been agreed, such as pay and working hours.

Why is it important to have an employment contract?

Employment contracts are legally binding documents that employers and employees agree to. This reduces the chances that one party will take legal action later on. Your employment contract lets employees know exactly what is expected of them and what actions will be taken if they don’t comply.

Once you have accepted the job, there is a legally binding contract of employment between the employee and the employer. It does not need witnesses or their signature to make it valid. 5.

When do you sign a fixed term contract?

Fixed-term employment is a contract in which a company or an enterprise hires an employee for a specific period of time. In most case it is for a year but can be renewed after the term expires depending on the requirement. In a fixed-term employment, the employee is not on the payroll of the company.

What are the terms of an employment contract?

An employment contract (or employment agreement) defines the terms of a legal binding agreement between an employee and employer such as compensation, duration, benefits, and other conditions of the employment relationship. What is a Contract of Employment?

Do you need to read the employment contract template?

It is, therefore, essential that a new employee read the contents of the employment contract template making sure that he’s satisfied with all its elements before attaching his signature on it. As an employee, you also have to bear in mind the legal consequences should you break the employment agreement.

What should be included in an employee contract?

Employee contracts contain details like hours of work, the rate of pay, the employee’s responsibilities, etc. In the event of a dispute or disagreement about the terms of employment, both parties can refer to the contract. Below you will find an employee contract template with a free download that you can use to create your own contract.

What are the terms and conditions of an employment contract?

An employee contract must provide for at least the same minimum terms and conditions and wages set by the National Employment Standards (NES) contained in the Fair Work Act 2009 or the relevan t award, enterprise or other registered agreement. Both the employer and employee must agree to any changes to the employment contract.

When do you get paid as a contract employee?

Contract workers may be paid in amount agreed upon in a contract, either in lump sum or installments; regular employees are usually paid based on salary, hourly wages, or commission.

What makes someone a regular employee or a contract employee?

One of the main factors when determining whether a laborer is considered a regular employee or a contract employee is the degree of control that the company has over their work project. Generally, employers have a great degree of control over regular employees, including the number of hours worked, pay rates, and benefits offered.

When do you need an employee contract template?

An employee contract template for new hires, including a free download. An employee contract template can be used to formalize your employment agreement with a new employee. Employee contracts contain details like hours of work, the rate of pay, the employee’s responsibilities, etc.

What do you need to know about an employment contract?

A standard employment contract is between an employer that hires an individual to work on a per hour ($/hr) or per-project basis. Depending on the laws in the State, the employee may be subject to payroll taxes subject to withholding by the employer.

Why do you need to have an employment contract?

But for the employer, this is an essential way to establish, as well as protect, a good working relationship between the two parties. An employment contract or an employment agreement is a legal document that defines the bounds of the relationship between the employer and the employee. Why should you have an employment contract?

Can a company hire someone as a contract employee?

Companies can hire workers for different positions and lengths of time. The specifics of an employee’s position determine whether they are an internal employee or a contract employee. There are positive and negative implications for businesses regarding contract employees.

What should you expect from a contract employee?

“What really matters in the workplace is helping employees feel appreciated.” To get the best from your contract workforce, your organization needs to treat contract workers with the same respect and appreciation you give to your full-time employees.

How many hours can a contract employee work?

Contract workers can be very beneficial for your business, but they aren’t always the right option. Here are some situations where you shouldn’t hire a contract worker. The law specifies that contractors can only work 1,040 hours for any employer each year.

What happens at the end of an employment contract?

This is the essence of the bargain that an employment contract represents. The simplest agreement is that, if the employer fires the employee before the end of the contract term, other than “for cause,” the employer must pay the employee his compensation for the balance of the contract.

The Employee will commence permanent full-time employment with the Employer on the 10th day of June, 2021 (the “Commencement Date”). The Employee agrees to be employed on the terms and conditions set out in this Agreement.

The Employer desires to employ the Employee and the Employee has agreed to accept and enter such employment upon the terms and conditions set out in this Agreement.

Is there a contract between an employer and an employee?

There is always contract between an employee and an employer. You may not have anything in writing, but a contract still exists. Your agreement to work for the employer and their consent to pay you through a verbal agreement forms a contract. Contracts can be verbal agreements.

When do I have to sign an employment contract?

Sometimes an employee may sign a contract after being offered a job and circumstances may arise along the way forcing him/her not to start the job offered. Most contracts require employees to give one month notice before leaving the job.

What do you need to know about an employee contract?

Employee contracts, also known as employment agreements, contracts of employment, employment contracts, and job contracts, are written legal documents that spell out binding terms between the employee and his or her employer. This document lists the rights, responsibilities, and obligations of both parties.

Can a company make an employee sign an agreement?

One problem is that unless you give the employees something new in exchange for signing, the agreement might not be enforceable. Just continuing to be employed is not enough. You will need to give them a signing bonus or promotion, or other form of consideration. Can the Employee Be Required to Sign?

What do you need to know about signing a contract?

Generally in a fixed-term employment. The payout or the payment is fixed in advance and is not altered till the term expires. Permanent job contract. Permanent contract of job is somehow long term contract and you have to promise for long term commitment.

What happens when you sign a permanent contract?

Permanent contract of job is somehow long term contract and you have to promise for long term commitment. For permanent positions, you will be eligible for full employee benefits offered by the client/employer. This can vary for fixed-term contracts (which will be determined by the employer). You will continue to be PAYE (for HMRC purposes).

Can a company force you to sign a new contract?

Although it’s another step after signing job contract but it’s better if you know about those things before signing contract. Employer can’t force you to sign a new contract unless you are not clear about all terms and condition in contract or with out your wiliness.

If an employment contract is entered into after the employee has already begun working, then no new consideration has been given by the employer in order to validate the written employment contract.

Is the contract of employment based on law?

Answer: Employment relationships are based on the law of contract. A contract of employment can be oral or written. Both types of agreements are valid and enforceable and may be comprised of both “express” and “implied” terms. The terms which have been openly discussed and negotiated between the parties are the express terms of the contract.

Can a company change an employment contract after being hired?

The recent decision of Holland v. Hostopia.com Inv., 2015 ONCA 762 from the Court of Appeal reinforces that employers cannot change employment contracts after an employee starts working. During the course of their employment, the company may want to make changes such as:

When to give consideration to an employment contract?

The most important point in the above situation is that consideration must pass at the time that the agreement is reached. If an employment contract is entered into after the employee has already begun working, then no new consideration has been given by the employer in order to validate the written employment contract.

When did the employee sign the employment agreement?

A time was scheduled and the employee did sign the contract (albeit after he resigned from his job). In short, the emplyer did not see any defect in its hiring process to somehow render the employment agreement unenforceable.

When to make changes to your employment contract?

Changes to Employment Contract Many startups may make changes to employment contract with an employee that is working for them or they have the employee sign the contract after they have already started working. In this situation, an employee already has a signed agreement.

Do you have to have a continuous contract of employment?

This must be a continuous period of employment. If you have been employed by the same employer on a series of short-term contracts they are added together to provide ‘continuity of employment’. Continuous employment is the length of time an employee has worked for their employer without a break.

There is always a contract between an employee and employer. You might not have anything in writing, but a contract still exists. This is because your agreement to work for your employer and your employer’s agreement to pay you for your work forms a contract. Your employer has to give you a written statement within 2 months of you starting work.

When to sign an employment contract and not start?

Signing employment contract and not starting Sometimes an employee may sign a contract after being offered a job and circumstances may arise along the way forcing him/her not to start the job offered. Most contracts require employees to give one month notice before leaving the job.

What do you need to know about employment contracts?

Employment contracts are the documents that spell out agreements between employer and the employee. That said, at times some issues may arise out of these employment contracts. For instance there are scenarios where one may sign and not fulfil a contract.

What are the consequences of treating an employee as an independent contractor?

Consequences of Treating an Employee as an Independent Contractor If you classify an employee as an independent contractor and you have no reasonable basis for doing so, you may be held liable for employment taxes for that worker (the relief provisions, discussed below, will not apply). See Internal Revenue Code section 3509 for more information.

When is a fixed term contract subject to funding?

A poorly constructed permanent contract will be deemed fixed term if it states that it is subject to funding. Conversely, a fixed-term contract that is subject to funding, but doesn’t specify this in its text, will likely render the contract to be one of indefinite duration if the employee works past 4 years. Need our help?

By definition, this is a type of contract “between an employer and a worker, where the employer is not obliged to provide any minimum working hours, while the worker isn’t obliged to accept any work offered.

Do you have to sign a verbal contract?

Employers may offer you both written and verbal contracts. Most bosses will require you to sign a contract to clear any ambiguities. However, it is not a must for you to sign the contract. No statutory obligation requires having the written statements or contracts signed.

Do you have to be an employee in Virginia?

Not all the factors must be present to find an employee/employment relationship, but the factors are guides to assess the likelihood as to whether an individual is an employee or an independent contractor . The 20 factors and Virginia’s exemptions to employee classification can be found here .

What happens if an employer misclassifies a worker in Virginia?

An employer who misclassifies workers may be subject to penalties under Section 60.2-513 of the Virginia Unemployment Compensation Act. . A Tax Representative will review your situation and be able to determine proper worker status.

What makes a contract of employment an agreement?

A contract of employment is an agreement on the employment conditions made between an employer and an employee. The agreement can be made orally or in writing and it includes both express and implied terms.

How are employment contract templates used in word?

Contract examples in Word and other software that are used for the clarification and specification of employment terms can help maintain the professionalism and formality when explaining the bounds of the employer and the employee’s relationship.

Can a employer change the terms of an employment contract?

Please note that once an employment contract is in place (whether or not it is a written contract), one party cannot change that contract without the consent of the other party. Any variation to my contract (including any change to my hours) should therefore be negotiated and agreed upon by both parties.

Who is the primary employer of a contract employee?

In most cases, the staffing vendor is called the primary employer or employer of record. Co-employment risks occur when the client, or “secondary” employer, oversteps the bounds of the contractor-secondary employer relationship. Simply put, the client exercises more control over the contract employee than the laws and regulations permit.

Can a employer change the start date of a contract?

If the employer changes the start date in a written agreement without the employee’s permission, this would be construed as a breach of contract, and the employee may have a case for legal action.

What’s the difference between a contract and a start date?

There is a difference between an employment contract and a contracted start date. An employment contract guarantees the worker his position for a set period of time, which could be six months, a year or more.

Where does the signature date go on a contract?

The ‘signature date’ is, unsurprisingly, the date written next to or below the signature of each party, showing the date they signed the contract. Contracts can also, confusingly, contain defined dates such as ‘commencement date’, ‘effective date’ or ‘start date’.

What do you call the start of a contract?

The term of a contract refers to its duration. To calculate the term, we need to know at least one date, usually the start date. The start date is typically called the effective date. Timeline of a contract with a definite term.

What do you need to know about a contract?

Can a basic employment contract with standby / on call clause be used?

This Basic Employment Contract with Standby/On Call Clause can be applied to a wide variety of jobs. Standby and call-out allowances may be necessary on account of the nature of the job or in order to provide a degree of flexibility. Where applicable, standby rates should be specified in the employee’s employment contract.

Can a company require an employee to be on call?

Aside from potential issues with the Working Time Regulations, employers must ensure that they do not seek to impose excessive contractual requirements for standby/call-out on their employees. Unacceptable demands on employees outside their normal working hours could lead to claims for constructive dismissal.

Where can I get an employee contract template?

In the event of a dispute or disagreement about the terms of employment, both parties can refer to the contract. Below you will find an employee contract template with a free download that you can use to create your own contract. Download our free employment contract template in Microsoft Word format. Download Template Instant download.

When is a fixed term contract of employment?

The court found in favour of the teachers, following the Ontario Court of Appeal decision in C eccol v. Ontario Gymnastic Federation, which held that when the underlying reality of an employment relationship suggests one of indefinite duration, then successive fixed-term contracts can be deemed to be a contract of indefinite employment.

What are the different types of employment contracts?

There are different types of employment contracts and employment contract samples. Employers have the task of choosing the one which best suits his business, one that would accurately reflect the most favorable arrangements he will have with his employees. Here are the most common types of employment agreements samples to consider:

How many hours of sick leave can a contractor give?

(3) A contractor may choose to provide an employee with at least 56 hours of paid sick leave at the beginning of each accrual year rather than allowing the employee to accrue such leave based on hours worked over time.

What does it mean to be an employee in a contract?

Written contracts which describe the relationship the parties intend to create. Although a contract stating the worker is an employee or an independent contractor is not sufficient to determine the worker’s status.

When to classify a worker as an employee or independent contractor?

The Internal Revenue Service reminds small businesses of the importance of understanding and correctly applying the rules for classifying a worker as an employee or an independent contractor. For federal employment tax purposes, a business must examine the relationship between it and the worker.

There are two types of employment contract: Contracts can be agreed in writing or verbally. In the employment contract, you indicate whether a Collective Labour Agreement ( CAO) applies. When should an employee receive a permanent contract? You cannot continually extend temporary contracts.

As required by the Employment Rights Act 1996, s. 1, the particulars of the Employee’s employment are set out in Schedule 1 of this Agreement. The Employee will commence permanent full-time employment with the Employer on the 12th day of June, 2021 (the “Commencement Date”).

How is a contract of employment defined in the UK?

A contract of employment is a legally binding agreement between an employer and employee. In the UK, the term ‘employee’ is defined by the Employment Rights Act 1996 as an individual who has entered into or works under a contract of service or apprenticeship. Employment contracts consist of a mixture of express and implied terms. Express terms

What are the particulars of an employment contract?

Particulars of Employment. As required by the Employment Rights Act 1996, s. 1, the particulars of the Employee’s employment are set out in Schedule 1 of this Agreement. Commencement Date and Term. The Employee will commence permanent full-time employment with the Employer on the 4th day of August, 2019 (the “Commencement Date”).

Is the employment contract tool for every employee?

The Employment Contract Tool isn’t for every worker. It can’t be used for: employees covered by registered agreements. Use the business.gov.au – Employment Contract Tool .

When do employees have to stick to a contract?

All employees have an employment contract with their employer. These are called the ‘terms’ of the contract. Employees and employers must stick to a contract until it ends (eg by an employer or employee giving notice or an employee being dismissed) or until the terms are changed…

All employees have an employment contract with their employer. A contract is an agreement that sets out an employee’s: These are called the ‘terms’ of the contract.

How long does an employee contract last or uphold if?

However, in general, a non-compete lasts indefinitely while you are employed and then for the period of time specified after your employment ends. Generally, that is a two year period. If your non-compete says three years after you leave employment, then it may not be enforceable on that basis.

What should be included in a part time employment contract?

Part-Time Contract This type is basically the same as the first one except this type focuses on the employee’s stipend and working hours. The contract should specifically clarify the employee’s holiday benefits and should, in detail, be accurately shown in the employment contract.

When does an employer terminate an employment contract?

The contracts are ongoing until terminated by either the employer or employee and may be for full or part time work. Employees on these contracts are entitled to the full range of statutory employment rights.

What does it mean to have an employment contract?

Employment contracts are agreements that are made between employers and employees (independent contractors, subcontractors, freelancers, etc.) to pay for services provided. The employment status depends on their IRS tax classification, W-2 (employee) or 1099 (independent contractor).

When do you have to sign an employment contract?

Employment contracts are typically signed by both parties after the job offer has been accepted and before the employee’s first day of work (or within the first few weeks on the job). Which employees should sign an employment contract? All employees should generally sign an employment agreement.

When do you need a temporary employment contract?

A temporary contract is used for temporary employees. It still contains all of the relevant details of an employment agreement, but it specifies a specific period of time during which the agreement is valid. Can I write my own employment contract? Creating your own employee contract involves navigating a minefield of potential legal issues.

What kind of letter of agreement between employer and employee?

One kind of a letter of agreement between employer and employee is an employment contract. It is a signed agreement between an employee and an employer that establishes both the rights and responsibilities of the two parties. The agreement is crucial for both the company and the employee’s future.

Do you have to sign an employment separation agreement?

Employment separation agreements aren’t required by law; companies use them to seal confidential company information or to protect themselves from lawsuits. After signing, an employee can’t sue employers for wrongful termination or severance pay. So the question is: Should you sign an employment separation agreement?

What happens if an employee refuses to sign a confidentiality agreement?

Employers must be prepared to terminate any employee who refuses to sign the agreement. If an employer allows even one employee to refuse and remain employed, the agreements signed by the other employees will not be legally binding.

Where can I find a free employment contract template?

Download our free employment contract template in Microsoft Word format. This contract, dated on the __ day of ____ in the year 20____, is made between [company name] and [employee name] of [city, state]. This document constitutes an employment agreement between these two parties and is governed by the laws of [state or district].

Can a employer classify an employee as a contractor?

Classifying an employee as an independent contractor with no reasonable basis for doing so makes employers liable for employment taxes. Certain employers that can provide a reasonable basis for not treating a worker as an employee may have the opportunity to avoid paying employment taxes.

Can a contract of employment be terminated for any reason?

Procedure for termination of employment Whilst the contract of employment makes provision for termination of employment, it must be understood that the services of an employee may not be terminated unless a valid and fair reason exists and fair procedure is followed.

Can a prospective employer withdraw a job offer?

However, if the prospective employer doesn’t mention this at the time, it can’t add this condition later on. If an offer that has been accepted is then withdrawn, your employer has ‘breached’ the contract.

How to terminate employment before commencement-HRM online?

• A right to terminate the contract immediately where the employee provides false information about their qualifications; • An ‘entire agreement’ clause that provides that the written contract contains all of the terms of employment and an acknowledgement from the employee that they have not relied on any verbal representations; and

When to send an employment contract cancellation letter?

An employer writes an employment contract cancellation letter to the potential employee he has selected for a job to cancel the employment contract signed between them. Sometimes, it might happen that after signing the employment contract the employer might change his mind regarding the selection of the person for the vacant job.

Can a person get out of an employment contract?

This type of breach not only allows the employee out of the contract, but may also give the employee cause to sue the employer for damages. Entering into an employment contract requires both parties to treat one another fairly.

When does an employer rescind an offer of employment?

In certain states, including New Jersey, a judicial exception to the at-will employment doctrine has been carved out for certain circumstances where an employer rescinds an offer of employment after the prospective employee has relied on that offer to his or her detriment, such as by leaving another job or moving.

Can a freelancer sign a zero hour contract?

As of January 1, 2015, it is no longer allowed to extend zero-hour contracts indefinitely. Freelancers are not officially in service (loondienst) with an employer, however they are required to draw up and sign a specific type of contract with a client that defines their working relationship.

What is clause 13.3 of works and services contract?

Clause 13.3 gives the Company the right to approve both the amount of insurance cover and the insurers selected by the Contractor. It should be noted here that if work is to be done on Company premises, it may be more appropriate for the Company to arrange the works insurance.

Is the employment contract a one way street?

An employment contract is not a one-way street. The contract binds both you and the employee, so it limits your flexibility. This may pose a problem if you later decide that you don’t like the contract terms or the needs of your business change.

Can a contract be signed by two people at the same time?

If it is possible that the parties to a contract will not sign it at the same time, you might consider adding a section in the contract providing that the contract will not be legally binding unless it is signed by both parties.