Yes. If an Employee is a contract employee set to work for a limited period of time, you can attache the contract and add the contract expiry date.
Go to The employee Profile and Navigate to the Job Tab.
Click 'Include Contract Details' Check box. The Attach,ent button and the start/end date fields will be visible. Fill the fields, attach the contract 9optional) and Click Save.
You can now set up a notification based on contract end date.
Please refer to the below article more more information on how to set up notifications. Contract expiry notification is under the 'Date based' Notification list.