The NFL Players Association and the team owners will take separate votes today on whether to approve proposed basic labor agreement between the athletes and the teams.

The executive board of the players association met for fdive hours yesterday in the union's Washington offices and cleared the way for the player representatives to vote on the proposal today at the Sheraton-Park Hotel.

The owners, meanwhile, met yesterday in New York, and their ratification vote also will be taken today by mutual agreement.

The proposed contract was worked out last week after three years of negotiations.

Sargent Karch, executive director of the NFL management council, left Washington yesterday after four days of ironing out the agreement's final language with the representatives and attorneys of the union.

He presented the package to the owners yesterday while six members of the players association executive board - president Dick Anderson, vice presidents Gene Upshaw and Len Hauss and board members Skip Butler, Fred Willis and Jack Youngblood - received the final package yesterday afternoon.

"It will not be renegotiated any longer" said Ed Garvery, the union's executive director. "It will rise and fall on what's there. There is now a complete agreement on the final language between both sides. We agreed that there will be no more changes."

Garvey again declined to provide specifics of the contract other than to say it would run for five years and that it contains provisions for a union shop, requiring players to pay union dues whether or not they belong to the association.

In New York, it was learned that the pact calls for a moified college player draft to be held about May 1.

The draft is normally held in January. Last year, it was delayed until April 8-9 because of the expansion draft to stock the new Seattle and Tampa Bay franchises, and that in turn was delayed by a court hearing.

May 1 is also the day that about 40 players who elected to play out their optons last season become free agents.

The proposed contract also is understood to call for:

The club owners to pay $15 million as a dmage settlement of player's lawsuits and legal fees. The fees amount to about $1 million.

Restoration of back pension payments by the club owners. The payments were stopped in March, 1974.

Immunity from antitrust suits.

An increased minimum salary, more money for pre- and post-season games, and other benefits.

Arbitration by an impartial outsider for injury and noninjury grievances. Commissioner Pete Rozelle formerly decided noninjury grievances.

In Washington, player representatives of all 28 teams are expected to vote on the package today.

Garvey said yesterday he did not know how the player reps would vote, although he said, "I feel it's a good agreement."

"Let's wait and see," added Hauss, the Redshkin center, when asked how his colleagues would vote.

If they do vote to accept - and the player reps are expected to ratify the agreement - the entire union membership would then vote onthe proposal. Garvey said ballots would go out no later than March 5, and the final tally would take another 10 days to be received and counted.

If either side, players or owners, votes to reject the new pact - and that is not expected to happen - negotiations would again have to be opened up.