Fixed Term Employment vs Permanent Job. Pros & cons in gratuity, bonus, other statutory benefits, and other things if any.
From India, Bengaluru
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From India, Bengaluru
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Tenure of Employment
In permanent employment, the employee can normally remain in service until reaching the age of superannuation as fixed in the contract of employment or the applicable service regulations. On the contrary, the tenure of employment is predetermined in a fixed-term contract, and the employee cannot remain in service beyond the fixed term unless it is mutually extended.
Notice of Termination
In the case of termination of employment upon the expiry of the fixed tenure, no notice of termination is required from either side in fixed-term contract employment.
Statutory Gratuity
In permanent employment, statutory gratuity is payable only upon the completion of the minimum qualifying service. In contrast, it is payable proportionately based on the years of continuous service actually rendered under the fixed-term contract, i.e., without the minimum qualifying service.
Promotion
In permanent employment, promotion or hierarchical career advancement is available, whereas it is not in fixed-term contract employment.
From India, Salem
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6108In permanent employment, the employee can normally remain in service until reaching the age of superannuation as fixed in the contract of employment or the applicable service regulations. On the contrary, the tenure of employment is predetermined in a fixed-term contract, and the employee cannot remain in service beyond the fixed term unless it is mutually extended.
Notice of Termination
In the case of termination of employment upon the expiry of the fixed tenure, no notice of termination is required from either side in fixed-term contract employment.
Statutory Gratuity
In permanent employment, statutory gratuity is payable only upon the completion of the minimum qualifying service. In contrast, it is payable proportionately based on the years of continuous service actually rendered under the fixed-term contract, i.e., without the minimum qualifying service.
Promotion
In permanent employment, promotion or hierarchical career advancement is available, whereas it is not in fixed-term contract employment.
From India, Salem
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Fixed term employment extended.jpg
Fixed term employment.pdf
Job applicant data and comparison table.xls