Document background
An End of Service Agreement is utilized when an employment relationship is being terminated, whether through resignation, retirement, or mutual agreement. This document is crucial in the Indian business environment where employment termination is governed by various federal and state laws. It serves multiple purposes: documenting the final settlement of all financial obligations, including statutory benefits like gratuity and provident fund; addressing the return of company property; establishing ongoing obligations regarding confidentiality; and providing a clear record that all employment-related matters have been settled. The agreement helps prevent future disputes by clearly documenting all aspects of the separation, making it essential for both employers and employees to have this formal record of their mutual understanding and obligations.
