The Release from Employment Contract is a crucial document used in the Philippines when formally ending an employment relationship through mutual agreement. It is typically employed during voluntary resignations, retirement, or amicable separations where both parties agree to terminate the employment contract. The document must comply with the Philippine Labor Code and related employment regulations, ensuring all mandatory benefits and rights are properly addressed. This agreement serves multiple purposes: it documents the final settlement of all employment-related obligations, provides legal protection for both parties through mutual releases, and clearly states any continuing obligations such as confidentiality or non-compete provisions. The document is particularly important in the Philippine context, where employment rights are constitutionally protected and strict compliance with labor laws is essential for the agreement's validity.
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1. Parties: Identification of the employer and employee, including complete legal names and addresses
2. Background: Brief overview of employment relationship, including start date, position, and reason for separation
3. Definitions: Key terms used in the agreement, including 'Effective Date', 'Final Settlement', and 'Claims'
4. Termination of Employment: Clear statement of employment termination, including effective date and nature of separation
5. Final Settlement: Detailed breakdown of all payments including salary, benefits, and other entitlements
6. Release and Waiver: Employee's release of claims against the employer, subject to receipt of stated benefits
7. Return of Company Property: List of company properties to be returned and confirmation of return
8. Confidentiality Obligations: Ongoing confidentiality obligations post-employment
9. Full and Final Settlement: Confirmation that the agreement represents full and final settlement of all claims
10. Governing Law: Specification that Philippine law governs the agreement
11. Execution: Signature blocks for both parties and witnesses
1. Non-Compete Clause: Restrictions on future employment, if applicable and reasonable under Philippine law
2. Reference Provision: Terms regarding future employment references
3. Benefits Continuation: Details of any benefits extending beyond termination date
4. Tax Provisions: Specific tax-related terms if settlement includes taxable components
5. Dispute Resolution: Process for resolving any disputes about the agreement
6. Non-Admission Clause: Statement that agreement doesn't constitute admission of liability
7. Social Media Clause: Guidelines regarding social media behavior post-employment
8. Recognition of Independent Legal Advice: Acknowledgment that employee had opportunity to seek legal counsel
1. Schedule A - Final Settlement Computation: Detailed calculation of all final payments including basic salary, pro-rated benefits, and other entitlements
2. Schedule B - Company Property Checklist: Itemized list of company property to be returned
3. Schedule C - Benefits Summary: Summary of benefits and their treatment post-termination
4. Appendix 1 - Clearance Form: Standard company clearance form confirming return of property and settlement of obligations
5. Appendix 2 - Certificate of Employment: Standard certificate confirming employment duration and position
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Banking and Finance
Information Technology
Manufacturing
Retail
Healthcare
Education
Professional Services
Construction
Telecommunications
Business Process Outsourcing
Mining
Agriculture
Transportation
Hospitality
Real Estate
Relevant Teams
Human Resources
Legal
Compliance
Employee Relations
Labor Relations
Personnel Administration
Corporate Secretariat
Risk Management
Internal Audit
Finance
Relevant Roles
Human Resources Director
HR Manager
Legal Counsel
Compliance Officer
HR Business Partner
Employee Relations Manager
HR Operations Manager
Chief Human Resources Officer
Personnel Manager
Labor Relations Manager
HR Administrator
HR Specialist
Recruitment Manager
Compensation and Benefits Manager
HR Coordinator
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