Compensation Agreement Letters for Word

1-

I am writing to inform you that you have completed your probation period with us. Many congratulations on this great achievement. As the probation period is over and you will be falling into the category of our permanent employees, we need to negotiate new terms with a new agreement. I am sharing the clauses of the new agreement with you in this letter.

Kindly read them carefully and let me know when we can sign the compensation agreement. The terms of the compensation agreement are as follows:

  1. This agreement certifies that Mr. Mark Hill is working with us from 30th March 20xx and the probation period is over now. He will be considered our permanent employee with effect from 30th May 20xx.
  2. The leaves balance has been increased from 20 to 30 per year
  3. The wages have been increased from $ [x] to $ [x] per month. Salary will be disbursed monthly.
  4. The employee is now entitled to our medical insurance, provident fund, marriage bonus and pension fund. 
  5. 8% of the gross salary will be deducted from the provident fund and the same amount will be added to it by the company. The employee can withdraw the amount at his retirement. 
  6. The job hours are reduced from 45 to 40 hours per week. 

After reading and understanding the clauses, please write back to us on [x] or visit us during office hours with a prior appointment. We welcome you again on board and believe you will continue to work with us with sheer assiduousness and diligence. In case you have a query please do not hesitate to give me a call at my number [x]. If you need further guidance, I assure my availability. 

I request you to keep the terms confidential, I wish you all the best for your future endeavors with us.  

Regards, 

Compensation agreement letter template

File: Word (.docx) Size: 14 KB

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I am writing to inform you that the result of the 25th annual selection board is out. It’s a pleasure to inform you that you have been selected for the permanent position of [x]. With a new position, comes new benefits and responsibilities. I am sharing the terms and conditions of the compensation agreement that you need to sign to report back on your permanent position.

Kindly read the clauses carefully and act accordingly. The terms are as follows:

  1. This agreement acknowledges that Mr. Ted Hall is working as an [x] in our company from 20th March 20xx. His probation period is over now and he will be considered a permanent employee of our company with effect from 4th November 20xx.
  2. The job description of the employee will remain the same as per the previous contract, however, a few more benefits have been added to it: medical and life insurance, Provident Fund and additional 15 annual leaves. 
  3. The salary has also been increased from $ [x] to $ [x] per month. 

If you have any queries, you may call me at [x] or write to me on [x]. We have fixed a slot from 2:00 pm- 4:00 pm on Tuesday 30th October 20xx, for signing the agreement. Please confirm your availability at your earliest. Also, keep the inquiry confidential. I wish you all the best for your bright future with us. Looking forward to working together. 

Regards. 

Compensation agreement letter template

File: Word (.docx) Size: 13 KB