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Post-Retirement Employment Contract New

This document outlines the terms of a post-retirement temporary contract of employment between a business unit and a retired employee, detailing the duration, place of work, duties, hours, leave, remuneration, and termination conditions. The contract specifies the employee's rights regarding annual leave, retirement fund contributions, and confidentiality obligations. It also emphasizes that the contract will automatically terminate upon completion, without expectation of renewal.

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0% found this document useful (0 votes)
494 views5 pages

Post-Retirement Employment Contract New

This document outlines the terms of a post-retirement temporary contract of employment between a business unit and a retired employee, detailing the duration, place of work, duties, hours, leave, remuneration, and termination conditions. The contract specifies the employee's rights regarding annual leave, retirement fund contributions, and confidentiality obligations. It also emphasizes that the contract will automatically terminate upon completion, without expectation of renewal.

Uploaded by

indigored2018
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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POST-RETIREMENT TEMPORARY CONTRACT OF EMPLOYMENT

between

NAME OF BUSINESS UNIT (THE EMPLOYER)

and

FULL NAME OF THE RETIRED EMPLOYEE (THE RETIRED TEMPORARY EMPLOYEE)


1. DURATION OF CONTRACT

The contract of employment shall be from date to date.

2. PLACE OF WORK

The Employee will be employed at full company address.

3. DUTIES

Although the Employee will be employed to perform the duties of job description and may be required to perform other

duties that may reasonably be expected of him within the Company from time to time.

4. HOURS OF WORK

4.1 The Company generally works a 5 day week, Monday to Friday inclusive.

4.2 The daily hours of work will be from 08h00 to 16h30. This may be altered and the Employee will be informed

of changes and be expected to accommodate them.

4.3 The Employee will be entitled to a meal interval equal to one hour per day.

4.4 By signing this contract the Employee undertakes and agrees to perform such overtime duties that may reasonably

be required of her from time to time, provided that this does not exceed the limitations laid down in relevant

legislation.

5. ANNUAL LEAVE

5.1 The Employee will accumulate annual leave at the rate of 1.25 working days per completed month of consecutive

service. The value of the total number of days accumulated (less any occasional days taken) at the end of the

contract period will be paid in terms of paragraph 8.

5.2 The Employee may take occasional leave during the period of the contract. This is at the discretion of management

and a leave application form must be completed and authorised before proceeding on leave.

6. RETIREMENT FUND AND INSURED BENEFIT CONTRIBUTIONS

6.1 Selected benefit salary:

 Your contributions to the Retirement Fund and to the insured benefits will be based on 80% of your “total cost of

employment” package.

 This amount will be defined as your “Selected Benefit Salary” (“SBS”). The sum of benefit contributions including

medical aid premiums should not exceed 20% of your annual “total cost of employment” package amount.”
6.2 Retirement fund:

 You have indicated that you wish to remain on the Grindrod Provident Fund. Please note that cover for Disability

will fall away at age 60.

 Please make your own personal arrangements for Disability Cover should your require this. Dread Disease cover

will continue until age 65 and Death Cover up until age 70.

 The contribution to the Grindrod Provident Fund is 17.5% of your “SBS”. The total contribution will be paid by the

Company and will form part of your “total cost of employment”.

7. GENERAL CONDITIONS

The remaining conditions of employment, not expressly detailed in this contract, shall be the existing Company policy,

rules and regulations and the general conditions of employment as contained in the Basic Conditions of Employment Act.

8. REMUNERATION

8.1 The Employee will receive, in arrears, Rvalue (value in words) per month.

8.2 The Company will remunerate the Employee for overtime hours worked at the rate described in the Basic Conditions

of Employment Act.

8.3 Statutory amounts such as PAYE and UIF contributions together with any other amounts authorised by the

Employee and/or determined by law will be deducted from the remuneration shown above.

8.4 The net remuneration will be paid into a South African bank account, nominated by the Employee.

9. TERMINATION OF EMPLOYMENT

On completion of the contract as detailed in 1 above this contract shall automatically terminate. Such termination shall not

be construed as being retrenchment but shall be completion of the contract. No enquiry or investigation is required when

this contract terminates through the passage of time. The Employee will have no expectation for the renewal or extension

of this agreement.

The Company, however, reserves the right to terminate the employment without notice:

 If the Employee is guilty of any conduct or non-performance that will justify dismissal;

 Should operational requirements prevail that will require termination; and/or

 For any cause as regarded in law as sufficient.

10. CONFIDENTIALITY

By virtue of this contract of employment with the Company/Group, the Employee will gain access to the industry secrets

(confidential information, intellectual property, specialised methods of operation, industry connections, inventions and all

other data and information whatsoever) of the Company/Group and that the Company/Group would suffer substantial
prejudice should the Employee divulge to anyone outside the Group such industry secrets and, accordingly, in terms of

this agreement, the Employee agrees not to divulge any industry secrets of the Company/Group whilst in the service of the

Company/Group or at any time thereafter.

The security of equipment, communication facilities and the protection of confidential information are of crucial importance

to the business of the Company/Group, which has a legitimate propriety and commercial interest therein which it is entitled

to protect and in this regard we ask that the Employee please initial/sign the attached “Monitoring and Interception

Employee Consent Form” and return it together with your signed contract.

The copyright on all work produced by the Employee within the course and scope of this contract of employment is vested

in the Group.

This contract contains the full agreement between the Company and the Employee and any changes to it will only be

applicable if reduced in writing. Any dispute arising out of this agreement will be resolved in accordance with the

Company’s policies, rules and regulations and include the following, which are available from the manager

 Disciplinary procedure

 Grievance procedure

 Group IT Policy

Other rules and regulations that may be implemented from time to time

The manager has a copy of these documents and they are available for viewing at any time.

Should the Company’s conditions be silent on an issue in dispute, the relevant determination of the Basic Conditions of

Employment Act (75 of 1997) will prevail.

By signature of the contract the Employee acknowledges that this agreement has been explained to him in a language that

he fully understands and that he accepts the terms and conditions stated therein.

SIGNED at ……………………………………………… on the …………… day of ………………………….. 20…….

EMPLOYEE’S SIGNATURE …………………………………………….. IDENTITY NUMBER …………………………………..

WITNESSES

1. ……………………………………………..

2. ……………………………………………..
SIGNED at ……………………………………………… on the …………… day of ………………………….. 20…….

COMPANY REPRESENTATIVE’S SIGNATURE ……………………………………………..

FULL NAME ……………………………………………………………..…….. IDENTITY NUMBER ………………………………..

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