The offer letter should be signed only after reading and understanding all the following points.
1. Date, Job Joining Place, Other Basic Information
Sometimes you may face the situation of moving from one place to another place to work place / city. So the date, where you have to join the company should be checked in the offer letter.
Apart from that you have to focus on your notice period, probation period, other factors.
2. Reporting system and duration of work
Before signing the job offer letter, you should know about your job role as well as duties.
Sometimes a different job is offered on the offer letter instead of the responsibilities communicated to you. So it should be checked.
3. Salary system and its components
Giving salary structure in offer letter is one of the important and necessary aspects. Even after discussing the salary, one thing to keep in mind is the take home / take home pay. If the salary you discussed is not in the offer letter, you can call and talk to the hiring HR. Otherwise, there may be disappointment when the first month’s salary is received.
4. Bonus (Guarantee and Discretionary)
Apart from salary, some companies also offer bonuses. Joining Bonus, Other Incentives (Financial Incentives). So one should be clear about the terms and conditions regarding warranty and discretion. Sometimes the information about the bonus is ambiguous. There will be confusion in the language.
5. Facilities
Some companies provide health, insurance benefits, expense reimbursements, free meals, other benefits to the employee apart from salary.
So you have to communicate with HR about all these facilities. Sometimes all this is known after the money is deducted from the salary every month. Therefore, it is better to know in advance what facilities will be available, how much money will be deducted from the salary every month.
6. Rules for holidays
Sometimes the offer letter does not highlight the total leave you can take in a year. To know this information means to read the offer letter. HR should be contacted if there is any confusion/questions.
Earned Leaves, Privilege Leaves are not explained properly in some offer letters until you complete the probation period. So it is better to read the offer letter properly and contact HR for more knowledge.
7 Nondisclosure Agreements
There are signatories to the offer letter that the contracts are general. But some sensitive ideas and confidential information will be given. Do not discuss them with others. They can be company reports, customer database, other documents etc. So read such things in the offer letter.
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8. Non-Solicit Provision
A non-solicitation provision agreement is an agreement that you cannot reach/contact the employer’s stakeholders (clients, employees, customers and others) for a certain period of time after you leave the company.
Read this agreement to avoid future confusions/ complications.
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9. Provision of work in competing companies
Majority of employees do not know this one thing. A person who has worked in one company after leaving said company cannot join its rival company for a specified period. Such information should be read in the offer letter. Only then should it be signed.
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10. Arbitration Agreement
Once you sign the offer letter, you agree to all the terms and conditions of the company. Then you will not be allowed to take any legal action against the company. After reading this one thing, if you agree, sign and join the company.
Signing an offer letter very soon is a sweet news for a candidate who has not had a job for a month, two months, even love. But it is better to read it carefully and sign it.
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