The Employee Severance Agreement is a critical document used in Pakistan when formally terminating an employment relationship through mutual agreement or as part of a structured separation process. It serves to protect both employer and employee interests by clearly documenting the terms of separation, including financial settlements, statutory benefits, and ongoing obligations. The agreement must comply with Pakistani federal labor laws and relevant provincial regulations, particularly regarding mandatory notice periods, gratuity payments, and social security benefits. It's typically used during corporate restructuring, voluntary separation programs, or individual employment terminations where a formal settlement is desired. The document helps prevent future disputes by providing a clear record of the separation terms and mutual releases of claims.
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1. Parties: Identification of the employer company and the departing employee
2. Background: Brief context of the employment relationship and reason for separation
3. Definitions: Key terms used throughout the agreement including 'Termination Date', 'Severance Payment', 'Confidential Information'
4. Termination of Employment: Formal statement of employment termination, including last working day and immediate obligations
5. Severance Payment: Details of the severance package, payment schedule, and tax implications
6. Statutory Entitlements: Confirmation of statutory payments including gratuity, provident fund, and other benefits
7. Company Property: Requirements for returning company property and documents
8. Confidentiality Obligations: 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 of Pakistani law and jurisdiction
11. Execution: Signature blocks and execution formalities
1. Non-Compete Clause: Restrictions on working for competitors - include for senior employees or those with access to sensitive information
2. Non-Solicitation: Restrictions on approaching company employees or clients - typically for sales or senior roles
3. Outstanding Stock Options: Treatment of any employee stock options or share schemes - include if applicable
4. Reference Provision: Terms regarding future employment references - include if agreed
5. Outplacement Services: Details of any career transition support - include if offered
6. Medical Benefits Extension: Any continuation of medical benefits - include if offered
7. Legal Fees: Agreement to cover employee's legal fees - include if negotiated
8. Garden Leave: Terms of any garden leave period - include if applicable
1. Schedule 1 - Severance Calculation: Detailed breakdown of severance payment calculation including basic pay, benefits, and statutory payments
2. Schedule 2 - Company Property: Itemized list of company property to be returned
3. Schedule 3 - Outstanding Benefits: List of any outstanding benefits, leave, or allowances to be settled
4. Appendix A - Release Form: Standard form for the employee to sign confirming receipt of all payments and release of claims
5. Appendix B - Confidentiality Agreement: Detailed confidentiality terms and list of confidential information
6. Appendix C - Tax Declaration: Form for tax purposes regarding the severance payment
Relevant legal definitions
Clauses
Relevant Industries
Banking & Financial Services
Information Technology
Manufacturing
Telecommunications
Healthcare
Education
Retail
Construction
Energy
Professional Services
Automotive
Pharmaceuticals
Textiles
Mining
Agriculture
Relevant Teams
Human Resources
Legal
Finance
Operations
Information Technology
Sales
Marketing
Production
Research & Development
Administration
Customer Service
Quality Assurance
Relevant Roles
Chief Executive Officer
Managing Director
General Manager
Department Head
Senior Manager
Project Manager
Software Engineer
Sales Executive
Operations Manager
Financial Controller
HR Manager
Marketing Director
Production Supervisor
Research Scientist
Account Manager
Technical Lead
Administrative Officer
Factory Worker
Customer Service Representative
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