The document explains serialization and deserialization in Java, which allow the conversion of an object's state into a byte stream for storage or transmission, and its reconstruction back into an object. It covers concepts like the 'Serializable' interface, the role of 'serialVersionUID' for version control, and the use of the 'transient' keyword to exclude certain variables from serialization. Additionally, the document includes sample code demonstrating both serialization and deserialization processes with an 'Employee' class.