Employment contracts

FÍN advises its members regarding employment contracts related to terms and rights in addition to interpretation of such contracts.

Below can be found more detailed information about content of employment contracts plus forms for such contracts.

Content of employment contracts

Employment contracts are between an employee and an employer which determines work contribution of an employee in the service of an employer in exchange for certain remuneration in the form of salaries and other profession/occupation related benefits. It's required to create a written employment contract between employee and employer/superior at the beginning of employment.

By clearly stating in employment contract which rules shall apply, both regarding the work and the remuneration, a disagreement can be avoided on later stages. In employment contracts shall the following be stated:

Identity of involved parties; names, id numbers etc.
Workplace and address of employer
Profession/occupation title
Setup of working hours and job percentage
Beginning of employment, duration, if applicable, and termination notice
Terms of employment (remuneration) e.g. by referring to salary rate and other profession/occupation related benefits.
Vacation leave rights
Sickness/illness leave rights
Pension fund and union

Any changes of terms of employment, excluding changes due to laws or Collective Agreements, shall be confirmed with a written agreement.

Additional detail - All text is in Icelandic and has not been translated by FÍN