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You would be able to extend the contract employee's assignment period using
Manage Contingent Worker -> Right side of the form u can see Public Shortcuts & Click Public Shortcuts
You would be able to see All Contingent Workers and click on it to see the list of Contingent Workers .
Find the particular employee and click the employee name
Right side you can see employee details.
Now go to actions and and select Update start date and give the new start date..