An End Of Service Agreement is a crucial document used in Singapore when concluding an employment relationship, whether through resignation, retirement, or mutual agreement. The document addresses requirements under Singapore's Employment Act, CPF regulations, and tax laws, providing comprehensive coverage of final payments, benefits, continuing obligations, and release of claims. This agreement helps prevent future disputes by clearly documenting all aspects of the separation, including final settlements, return of company property, and ongoing confidentiality obligations. It's particularly important in Singapore's highly regulated employment environment where both parties need clear documentation of their rights and obligations upon termination.
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1. Parties: Identification of employer and employee with full legal names and addresses
2. Background: Brief history of employment relationship and reason for termination
3. Definitions: Key terms used throughout the agreement
4. Final Settlement Amount: Breakdown of all final payments including salary, leave, bonuses
5. Payment Terms: Timing and method of final payment
6. Return of Company Property: Requirements for returning company assets and documents
7. Confidentiality Obligations: Ongoing duties regarding confidential information
8. Full and Final Settlement: Mutual release of claims
1. References: Terms regarding provision of employment references
2. Post-Employment Restrictions: Non-compete and non-solicitation provisions
3. Outplacement Support: Details of any career transition assistance
4. Medical Benefits Extension: Continuation of health coverage terms
1. Schedule 1: Payment Calculation: Detailed breakdown of final payment components
2. Schedule 2: Company Property List: Inventory of items to be returned
3. Schedule 3: Benefits Summary: Summary of ongoing benefits and their duration
4. Appendix A: Tax Declaration Form: Required tax documentation for final settlement
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