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can somebody clarify my doubt regarding contract between employee and employer

Question asked by csiscool in #Coffee Room on Jul 28, 2010
csiscool
csiscool · Jul 28, 2010
Rank C2 - EXPERT
I signed the contract in my company to work for 2.5 years. If I breach the contract I need to pay 75000.(they said).

I also heard.," if you breach contract there will not be any such penalty.according to the indian law, it is not a valid one." my uncle said..

If I get a good job I planned to jump to that company..But please clarify whether any such penalty is possible? Would the indian court consider that case?

PS: the contract is on 20rs india non judcal stamp paper Posted in: #Coffee Room
Kaustubh Katdare
Kaustubh Katdare · Jul 28, 2010
Rank A1 - PRO
Typically, no one cares about the contract. For example, if another company hires you; you may negotiate with them and make them pay the amount. Not very familiar with the legal aspects of it.
csiscool
csiscool · Jul 28, 2010
Rank C2 - EXPERT
What i want to know is,

assume I am working for x. If I signed contract or employeemnt agreement. and after one month If I dont go for that company , what will be result? whether they can take action against me?
Kaustubh Katdare
Kaustubh Katdare · Jul 28, 2010
Rank A1 - PRO
csiscool
What i want to know is,

assume I am working for x. If I signed contract or employeemnt agreement. and after one month If I dont go for that company , what will be result? whether they can take action against me?
"Can they"? Yes, they can. However, it depends on the exact clauses mentioned in the contract. Does your contract mention anything about it?
Ashraf HZ
Ashraf HZ · Jul 28, 2010
Rank A2 - PRO
This is why its important to take contracts seriously before signing them. Does India have an arbitration service when it comes to employment contract disputes?

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