The Redundancy Settlement Agreement is a critical legal document used in Pakistan when an organization needs to terminate employment due to position redundancy. It serves as a comprehensive record of the mutually agreed terms between employer and employee, incorporating requirements from Pakistani labor laws including the Industrial Relations Act 2012, Standing Orders Ordinance 1968, and relevant provincial regulations. This document is typically employed during organizational restructuring, downsizing, or closure of operations, providing clear documentation of severance packages, notice periods, and other entitlements. The agreement helps protect both parties' interests by preventing future disputes and ensuring all statutory obligations are met while maintaining confidentiality of the settlement terms.
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1. Parties: Identification of the employer and employee, including full legal names, addresses, and relevant registration/identification numbers
2. Background: Context of the redundancy situation, including employment history and basis for redundancy
3. Definitions: Definition of key terms used throughout the agreement
4. Termination Date: Specification of the official end date of employment and last working day
5. Redundancy Payment: Details of the redundancy compensation package, including basic severance pay and statutory entitlements
6. Other Payments: Overview of additional payments including salary arrears, accrued leave, and other benefits
7. Tax and Deductions: Treatment of tax and other statutory deductions on all payments
8. Company Property: Requirements for return of company property and documentation
9. Confidentiality: Ongoing obligations regarding confidential information
10. Full and Final Settlement: Confirmation that the agreement represents a full and final settlement of all claims
11. Legal Compliance: Confirmation of compliance with relevant Pakistani labor laws
12. Governing Law: Specification of Pakistani law as governing law and jurisdiction
13. Signatures: Execution section including witness requirements
1. Garden Leave: Terms of garden leave if applicable during notice period
2. Post-termination Restrictions: Non-compete and non-solicitation clauses if required
3. Reference: Terms regarding the provision of employment references
4. Outplacement Support: Details of any career transition services provided
5. Medical Benefits Continuation: Terms for extending medical coverage post-termination
6. Share Options/Awards: Treatment of any outstanding share options or awards
7. Legal Costs: Terms regarding payment of legal costs for agreement review
8. Communications: Agreed statements regarding the departure for internal/external use
1. Schedule 1 - Payment Calculation: Detailed breakdown of all payments including redundancy calculation, gratuity, and other entitlements
2. Schedule 2 - Company Property List: Itemized list of company property to be returned
3. Schedule 3 - Outstanding Benefits: Details of any pro-rated bonuses, commission, or other benefits
4. Schedule 4 - Legal Requirements Checklist: Checklist confirming compliance with Pakistani labor law requirements
5. Appendix A - Employee's Claims: Comprehensive list of claims being settled under the agreement
6. Appendix B - Benefits Summary: Summary of any continuing benefits or benefit conversions
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