Hi Pavan,
No, there is option to setup the notification for validity expiry for users. I have seen/noticed in my previous projects but unfortunately no idea how was it enabled.
Every company there would be combination of employees and contractors thus there would be case to give the limited validity to contractors initially and keep extending the validity based on their existence.
if the option is enabled, user get to know that before expiring user account (at least from 15 days/1 month) to contact security admin to extend the user account validity.
BR/Suresh