Yes. If an Employee is a contract employee set to work for a limited period of time, you can attach the contract and add the contract expiry date.

Go to The employee Profile and Navigate to the Job Tab.

Click 'Include Contract Details' Checkbox. The Attachment button and the start/end date fields will be visible. Fill the fields, attach the contract optional) and click Save.

You can now set up a notification based on the contract end date.

Please refer to the below article for more information on how to set up notifications. Contract expiry notification is under the 'Date based' Notification list.

Add Subscribers to Notifications.