Fixed Term Contract of Employment Draft To Be Adjusted Accordingly

Download as docx, pdf, or txt
Download as docx, pdf, or txt
You are on page 1of 9

FIXED TERM CONTRACT OF EMPLOYMENT

ENTERED INTO BETWEEN:

_______________________________
Registration number: __________________
(HEREIN REFERRED TO AS "THE EMPLOYER")

and

Name: __________________________

ID Number: _____________________
(HEREIN REFERRED TO AS "THE EMPLOYEE")

Address: ____________________________
______________________________
______________________________
_____________________________
1. Basis
1.1. It is recorded that this contract is concluded on the basis that:
1.1.1.Institute of Accounting and Commerce (hereafter referred to as the “IACSA”) is a training provider
as contemplated in Section 17 (1)C of the Skills Development Act, 1998 (Act 97 of 1998) hereafter
referred to as the “Skills Act”;
1.1.2.The employer or as employee of the employer nominated by him is a member of the IACSA;
1.1.3.The employer is an approved training centre as contemplated in the constitution of the IACSA.
1.2. Should any one of the bases set out in paragraph 1.1 cease to apply, the employee shall be entitled
summarily to terminate this contract.
2. Conditions of Employment
2.1. The Employee’s conditions of employment will be governed by the Basic Conditions of Employment
Act.
2.2. Should any term of this contract conflict with any existing or future law, such law shall be binding in
respect of the said only and all other terms of this contract shall remain valid and binding upon the
parties.
2.3. No indulgence or condonation granted by the Employer shall constitute a waiver of any of the
Employer’s rights in terms of this agreement.
2.4. No amendment of this contract shall be valid unless reduced to writing and signed by the parties.
3. Commencement
Employment began on 01 January 2020and will continue until terminated as set out in clause 4 and 14 of
the contract.

4. Duration

By entering into this fixed term contract, the Employee understands and expressly acknowledges that the
duration of employment with the Employer in terms of this Fixed Term Contract will be specifically linked to
the employee’s achievement of IACSA Accreditation as an Accounting Officer. This Fixed Term Contract
commenced on _________________ and will end on the completion of your training but no later than 3 years
from the date of commencement (i.e. the contract will end on or before _________________).

This Fixed Term Contract may be prematurely terminated should the Employee not successfully achieve and
have signed off by management,the IACSA the sections of the IACSA Log Book within the appropriate
timeframes and to the agreed standard as below:

2 | P a g e | Fixed Term Contract Initial: __________


By ______________________
 “Assisting” in Financial Accounting, Independent Reviews, Taxation, Corporate Law / Commercial Law,
Management Accounting and Practice Management as per IACSA Log Book.
 “Performing” more than 30 % of the tasks notes in Taxation within the IACSA Log Book.
 IACSA Monitor Visit satisfactory with no outstanding deficiencies

By _______________________
 “Assisting and Performing” in Financial Accounting, Independent Reviews, Taxation, Corporate Law /
Commercial Law, Management Accounting and Practice Management as per IACSA Log Book.
 “Performing” more than 60% of the tasks notes in Taxation within the IACSA Log Book.
 IACSA Monitor Visit satisfactory with no outstanding deficiencies

By _______________________
 “Performing” in Financial Accounting, Independent Reviews, Taxation, Corporate Law / Commercial
Law, Management Accounting and Practice Management as per IACSA Log Book.
 “Performing” more than 100% of the tasks notes in Taxation within the IACSA Log Book.
 IACSA Monitor Visit satisfactory with no outstanding deficiencies

5. Employment and Duties


5.1. The Employee will be employed as aTrainee Accountant. The employee will report directly to the
manager.
5.2. The Employee hereby agrees to obey all lawful and reasonable orders or instructions from the
Employer.
5.3. Should the need arise the Employer reserves its right to transfer the Employee from one area of the
business to another.
5.4. The Employee may be required, from time to time, to perform additional duties as directed by the
Employer.
5.5. A job description is attached to this contract of employment.
6. Probation
The employee is appointed for a probation period of 3 (three) months. The employer shall be entitled to
terminate this contract before the expiring of the probation, due to the employee's misconduct , incapacity or
due to operational reasons. The employer undertakes to follow all relevant procedures and guidelines as set
out in the schedules to the Labour Relations Act, 1995.

3 | P a g e | Fixed Term Contract Initial: __________


7. Training Costs and Related
7.1. The employer undertakes to train the employee during the 3 year period referred to in paragraph 3
so as to commence the training process to enable the employee to register as an IACSA Accounting
Officer (IAC(A/O);
7.2. The employer further undertakes to permit inspections by officials of IACSA during workings hours into
the work performed by the training provided to the employee;
7.3. The employee undertakes to refund the employer:

7.3.1 100% of training costs incurred by the employer in his training should he resign or be dismissed
for misconduct or incapacity during the first year of training;
7.3.2 50% of such costs should he resign or be dismissed as set out in 4.2.1 above, during the second
year of training;
7.3.3 25% of such costs should he resign or be dismissed as set out in 4.2.2 above, during the third year
of training.

7.4. The employer will pay the costs of the employee for attending seminars, which are required to
provide the training as determined by IAC.
8. Place of work
8.1. The employee will be required to report for duty at the premises Business Soul Accounting CC,
currently situated at _________________________, and may attend SARS and clients’ sites at times.
8.2. The Employee may be required to work at other places as may be reasonably required by the
Employer.
9. Remuneration
9.1. The Employee will receive:
9.1.1. a monthly salary of R________
9.1.2.A bursary limited to R________:
9.1.2.1. The successful approval of FASSET funding;
9.1.2.2. The Unisacourse costs, to achieve the NQF level 7 required for the learnership, will be
paid over the 12 months of the year. Any exams failed or repeat subjects will be at the cost of
the employee and not the employer.
9.2. Payment of the Employee’s salary will be made into his/ her bank account on the 25 th day of each
month.
9.3. The following deductions shall be made by the Employer from the Employee’s salary:
 all statutory deductions, including PAYE and UIF;
 any other deductions as authorised by the Employee in writing.
9.4. Expenses including phone calls and mileage will be paid monthly at the agreed rate and in
accordance with the relevant tax legislation.
9.5. Payment of an annual bonus is not a condition of employment but shall be subject to the sole
discretion of the employer depending on the general economic climate and the performance results
of the company as well as the employeeconcerned.

4 | P a g e | Fixed Term Contract Initial: __________


10. Hours of work
10.1. You are required to work 45 hours per week.
10.2. Core working hours will be 8.00am to 16.30pm on Monday to Friday. It is a condition of employment
that during core working hours employees must be in the office available for work or meeting with
clients.
10.3. The employee will be entitled to an unpaid lunch break of 30 minutes, and two tea breaks of 15
minutes.Lunch time is 13:00pm unless otherwise agreed with the manager.
11. Overtime
11.1. It is a condition of their employment at the Company, that the employee work such overtime as may
be reasonably required by the Company from time to time.
11.2. The Employee agrees to work such overtime as may be required by the Employer and the Employee
shall be remunerated for time worked in excess of the ordinary working hours at the applicable rate
in law, alternatively with time off in lieu of overtime worked.
11.3. Any work on a Sundays shall be by agreement between the parties. If the employee works on a
Sunday, he/she shall he paid double the wage for each hour worked.
11.4. All overtime must be agreed in advance.
12. Public Holidays
12.1. The employee will be entitled to all official public holidays on full pay.
12.2. If the employee works on a public holiday he/she shall be paid at the applicable rate in law.
13. Annual Leave
10.1 The Employee shall be entitled to one day’s leave for every 17 days worked by the Employee (or 1
hours leave for every 17 hrs worked). This amounts to 15 working days per year.
10.2 The Employee shall be required to take such leave in accordance with the Employer’s operational
requirements and at a time convenient to the Employer.
10.3 The Employee will not be allowed to accumulate any leave and all leave must be taken within 6
months of the end of the leave year.
10.4 If the employer implements an annual shutdown during part of December and part of January, the
employee may be granted up to 2 days additional leave at that time depending on the requirements
of the employer.
11 Sick Leave
11.1. The Employee shall be entitled to thirty (30) days sick leave in every three (3) year cycle of
employment.
11.2 During the first six (6) months of employment, the Employee will be entitled to one (1) day’s sick
leave for every twenty-six (26) days worked.
11.3 The Employer may call upon the employee to submit himself to a medical examination conducted by
a Medical Practitioner nominated by the Employer for the purpose of establishing any illness, which
gives rise to a need for the Employee to take sick leave.

5 | P a g e | Fixed Term Contract Initial: __________


11.4 A medical certificate signed by a qualified registered medical doctor will be required to be produced
in the event of the Employee taking sick leave for two (2) or more days and which includes any single
day taken in conjunction with either a Saturday, Sunday or other Public Holiday, or the Employee has
been absent on more than two occasions during an eight-week period.
11.5 If the employee can provide no medical certificate, such days of absence shall be treated as unpaid
leave.
11.6 The employee is to notify the employer on or before 8:00am in the case of his or her absence from
work through illness. A failure to do this may lead to disciplinary action being taken against the
employee.
12 Family Responsibility Leave
12.1 The employee will be entitled to three days’ family responsibility leave during each leave cycle if he
or she works on at least four days a week.
12.2 The employee will be required to produce reasonable proof that such leave is needed.
13 Study Leave
13.1 For subjects forming part of academic courses required for admission as a member of IAC, the
employee shall be entitled to 1 day's leave to prepare for, and 1 day's leave to write, the final
examination in the subject in question. This entitlement applies only to the first occasion on which the
subject is written, and shall be limited to 10 days per annum;

13.2 Sick leave, family responsibility leave, and study leave does not accumulate.

14 Grievance and Disciplinary Policy


14.1 The Employee should address any grievances that arise during the period of employment by
following the standard grievance procedure of the Employer.
14.2 Disciplinary matters shall be dealt with in terms of the Employer’s disciplinary procedure and code
which may vary and be amended from time to time.
15 Termination of Service
14.1 This contract will automatically terminate on expiry of this fixed term (i.e. on completion of the
three year period of training (ie on or before __________________)
14.2 In the event of the termination of employment, either party shall be required to give the other
written notice as follows:
one week where the employee has been employed for six months or less; or
two weeks where the employee has been employed for more than six months or longer.
four weeks where the employee has been employed for longer than a year.
14.3 The Employee’s employment may be terminated summarily, without notice or compensation, if the
Employee materially breaches any obligation contained in this fixed term contract or in
circumstances justifying such in law.
14.4 The Employer may elect in the instance where the Employee provides notice of his intention to
terminate his employment, to pay the Employee in lieu of the work to be performed during this
notice period. Such payment rests within the discretion of the Employer.

6 | P a g e | Fixed Term Contract Initial: __________


15 Transport
It is a condition of employment that the Employee has a valid driver’s license and a vehicle in order to fulfil
their duties.

16 Electronic Communications
The Employee hereby consents to the monitoring and interception by the Employer of her
communications, be they direct or indirect, and in particular, without limitation thereto, her electronic
communications which she may send or receive using the equipment of the Employer, or during the
course and scope of her employment with the Employer. Any monitoring will be in line with the
appropriate legislation. Business Soul Accounting cc will be developing policies regulating the use of
electronic communication and in signing this Contract of Employment employees acknowledge and
accept that the regulation and monitoring of electronic communication is rapidly developing and will be
updated and varied from time to time as appropriate.
17 Confidentiality
The employee undertakes not to disclose any confidential information to any third party or entity during
the operation of this agreement or after its termination, unless the employer specifically agrees.
Confidential information for the purpose of this contract includes but is not limited to trade secrets,
business plans, strategies, financial information, client information and any other information that would
affect the Company’s competitive position, or that of current or past clients.

The employee may not render any service or services for reward, directly or indirectly, to any of the
employer’s clients who are or were clients of the employer during the 3 year period referred to in Clause
2.4 above, for a minimum of 18 months and a maximum of 24 months, after the termination of the
employee’s service with the employer.

18 Private Work
18.1 The employee may not render professional services in a private capacity for reward during the period of
employment without written consent of the employer;
18.2 The employee may not be employed by any other person for the duration of this contract without written
consent of the employer.
19 Retirement Age
The retirement age at Business Soul Accounting cc is 65 (sixty five), however at the discretion of the
Management this may be extended.

7 | P a g e | Fixed Term Contract Initial: __________


20 Code of Conduct
Please be advised that your employment is governed by rules, policies and procedures copies of which
may be obtained from your manager. All Company employees are expected to abide by the Company’s
policies and procedures. Employees are expected to familiarise themselves with the company policies and
procedures.
21 General
21.1 The Employee’s terms and conditions of employment may vary from time to time. In signing this
contract, the Employee acknowledges and understands that these terms and conditions may be
varied by the employer from time to time to meet the employers’ operational requirements and
requirements of his clients.
21.2 This agreement constitutes the whole of the agreement between the parties hereto relating to the
subject matter hereof and save as otherwise provided herein no amendment, alteration, addition,
variation or consensual cancellation will be of any force or effect unless reduced to writing and
signed by the parties hereto or their duly authorized representatives.
21.3 The parties agree that no other terms or conditions, whether oral or written, and whether express or
implied will apply hereto.

SIGNED AT ON THIS DAY OF 2018

For and on behalf of the EMPLOYER THE EMPLOYEE

WITNESSES:
1. 2.

8 | P a g e | Fixed Term Contract Initial: __________


JOB DESCRIPTION
Job title
May be engaged in any one or more of the following:-

 Filing
 Data capture
 Bookkeeping
 Preparation of tax returns for review by senior
 Preparation of financial statements for review by senior
 Maintaining Company Statutory files and CIPC Secretarial work
 Maintain personal time recording of office functions and report accordingly
 Communicating with SARS on tax queries
 Driving to and from SARS for VAT, PAYE and Income Tax Registrations and other queries with SARS.
 Any other duties as requested

9 | P a g e | Fixed Term Contract Initial: __________

You might also like