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Mr. Smith has been employed by our company as engineer since 1st March 2015.

Does this mean Mr. Smith is still being employed by the company?

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    Yes, it means he is still employed there. You would say "was employed" otherwise. Your wording is fine. – Max Williams Jun 30 '16 at 8:50
  • Some words mean both a specific starting action and a continuing state after that action. On his first day at work, Mr Smith received a note from the secretary to take to the security guard. It reads: 'Mr Smith has been employed (specific starting action) by our company. Please give him a security pass'. Now, some time later, we say 'Mr Smith has been employed (continuing state) since 1st March 2015/for 15 months]. – Sydney Jun 30 '16 at 11:49
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To answer the question: yes. The word has means the sentence is using the Present Perfect Progressive Tense.

To imply that the employment is no longer the case, you'd switch to using the Past Perfect Progressive Tense by using the word had.

Here's an example of both tenses side by side.

I regret to inform you all that a good friend and coworker has passed away. Mr. Smith had been employed by our company as an engineer since March 1st, 2015. He has been an inspiration to many and shall be sorely missed.

As you'll notice, we use the past perfect progressive to show that Mr. Smith's employment started in the past and continued for quite some time, stopping recently (with his death). Unlike his employment, however, the inspiration he gave to his coworkers continues into the present (and, likely, into the future as well).

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Yes. He is still employed.

Mr. Smith has been employed by our company as engineer since 1st March 2015.

The Present Perfect Tense means action that occurred and ended at some unknown, indefinite, time in the past. It also means an action that occurred in the past and continues up to now.

What tells us that Mr. Smith is still gainfully employed is not just the tense, but the clue, since, which is defined (for your sentence) as a preposition to mean : in the time after (a specified time or event in the past) : from (a point in the past) until the present time http://www.merriam-webster.com/dictionary/since. The preposition since has a date, which is a proper noun, and the object of the preposition: March, 1 2015.

If Mr. Smith was no longer with the company, they would have simply said, "Mr. Smith, who had started working for us on March 1, 2015, was employed by our company as engineer."

You may move the adverb prepositional phrase since 1st March 2015 closer to the verb phrase it modifies:

Mr. Smith has been employed, since 1st March 2015, by our company as engineer. [looks and sounds better in the original sentence]

OR

Since 1st March 2015, Mr. Smith has been employed by our company as engineer.

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