An Employment Transfer Agreement is essential in Singapore when employees are being transferred between employers, typically during corporate restructuring, mergers, acquisitions, or internal reorganizations. The document ensures compliance with Singapore's employment laws, including the Employment Act and CPF regulations, while protecting both employer and employee interests. It addresses crucial aspects such as continuity of service, transfer of benefits, and outstanding obligations, providing a clear framework for the employment transition process. The agreement is particularly important in Singapore's business environment, where employee rights and statutory benefits must be carefully preserved during such transfers.
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1. Parties: Identifies current employer, new employer, and employee
2. Background: Context of the transfer and business relationship between employers
3. Definitions: Key terms used tHRoughout the agreement
4. Effective Date of Transfer: Specifies when the transfer takes effect
5. Terms of Employment: Confirmation of continuing employment terms and conditions
6. Continuity of Service: Recognition of previous service period
7. Transfer of Benefits: Details of benefits transfer and treatment
1. Foreign Employee Provisions: Required when transfer involves foreign workers holding work passes
2. Union Recognition: Recognition of existing collective agreements for unionized employees
3. Non-compete Provisions: Transfer of restrictive covenants from existing employment agreement
4. Intellectual Property Rights: Transfer of IP obligations and rights for roles involving IP creation or management
1. Schedule 1: List of Transferring Employees: Details of all employees being transferred including their current positions and terms
2. Schedule 2: Current Employment Terms: Summary of existing employment terms, benefits, and conditions being transferred
3. Schedule 3: Outstanding Obligations: List of accrued but unused leave, pending bonuses, and other outstanding benefits
4. Appendix A: Employee Consent Forms: Template or copies of signed acknowledgments from transferring employees
5. Appendix B: Work Pass Details: Details of work passes and permits for foreign employees being transferred
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