Compensation: for the majority of workers, this will probably be the most important aspect of the agreement. The first $30,000 in compensation under the agreement can normally be paid without deduction for tax or national contributions. It is also important that there is a timetable for payment of this amount (for example. B in the next payroll or 21 days after the agreement is signed). Depending on the circumstances of the proposed termination, it is often possible to negotiate the number of benefits upwards and we can discuss this with you. Confidentiality: This clause prevents you from discussing the terms of the transaction agreement and, in some cases, the circumstances surrounding it. It`s quite common. However, you must ensure that you are able to discuss the agreement with your immediate family and you should also have the opportunity to inform potential employers of the reasons for your departure (in general). To do this, the corresponding sculptures would have to be installed. If the amounts offered are satisfactory or if you insert the lawyer to continue despite the fact that you could get more in court or court, your lawyer will sign the settlement agreement to ensure a quick settlement of the amounts offered.
In general, it is the employer who proposes a settlement contract – here`s what you need to know. Pension: If necessary, payments to your pension fund must be continued until the termination date and, if a payment is made in lieu of a termination, your employer may be required to continue to contribute for an equivalent period of time, depending on the contractual terms. If you choose to pay part of the compensation to your pension, this must be included in the transaction contract, otherwise you will not be able to benefit from the tax-free nature of the payment to your pension. Most workplace rights – whether based on the worker`s employment contract or specific protection laws – can be paid for by a transaction contract. In the media, there was a lot about confidentiality agreements (NDAs). A confidentiality agreement is an agreement reached by a staff member to ensure that the events and circumstances surrounding his employment and, if applicable, his dismissal remain confidential. They also generally require that the employee not say anything that could damage the reputation of the employer or the employer`s owners, directors or employees. Whether the offer of a transaction contract is accepted or accepted if some of the conditions are changed, such as increased money or a reference.B should be carefully considered. But a lawyer can do more than just advise you on the effects of the transaction contract, he can also advise you on what the terms mean, all the conditions you want to change and all the additional conditions that should be included outside the legal requirements. At Truth Legal, we will try to negotiate the best deal for you. A transaction contract does not necessarily mean that your employment is coming to an end.
You may have filed a complaint about your job, which your employer recognizes as valid, but it wishes to remain confidential. On the other hand, your employer may change the length of work in a way that might otherwise constitute an offence. They can offer you compensation as part of a transaction agreement to achieve this.