EMPLOYMENT AGREEMENT
BETWEEN
__________, __________, of __________, acting through __________, __________ (the "Company");
AND
__________, son/daughter/wife of __________, of __________, PAN __________ (the "Employee").
The Company and the Employee are each a "Party" and together the "Parties".
RECITALS
A. The Company wishes to employ the Employee, and the Employee wishes to be employed by the Company, on the terms of this Agreement.
B. This Agreement records the complete terms of that employment and supersedes any earlier offer, letter or discussion between the Parties to the extent they conflict with it.
NOW THIS AGREEMENT WITNESSES AS FOLLOWS.
- 7. WHOLE TIME AND OUTSIDE ENGAGEMENTS. During the term of this Agreement, the Employee shall devote their whole working time, attention and skill to the Company's business, and shall not take up other employment, consultancy, directorship or business without the Company's prior written consent.
- 8. STATUTORY BENEFITS. Where the Company and the Employee's compensation meet the coverage thresholds those Acts prescribe, the Employee will be enrolled for provident fund under the Employees' Provident Funds and Miscellaneous Provisions Act, 1952, and for insurance under the Employees' State Insurance Act, 1948; gratuity will be payable on the terms of the Payment of Gratuity Act, 1972 once the Employee completes the qualifying service that Act requires.
- 9. CONFIDENTIALITY AND INTELLECTUAL PROPERTY. The Employee shall keep confidential all information about the Company's business, clients, processes, pricing and finances that the Employee learns in the course of employment, both during employment and after it ends, except as the Employee's duties require or the law compels. All work product, inventions, records and material the Employee creates in the course of employment, and using the Company's resources, belong to the Company, and the Employee shall sign such further document as the Company reasonably requires to record that.
- 10. NO RESTRAINT ON COMPETING AFTER EMPLOYMENT. This Agreement does not restrain the Employee from taking up competing employment or business after this Agreement ends. Section 27 of the Indian Contract Act, 1872 renders a restraint of trade void outside narrow statutory exceptions that do not extend to an ordinary contract of employment, and a clause purporting to bind the Employee not to compete after leaving would not be enforced. What the Company has instead is clause 9, which continues after employment ends, and clause 11.
- 12. CONDUCT. The Employee shall observe the Company's code of conduct and other policies in force from time to time, including its policy against sexual harassment at the workplace framed under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013.
- 15. SEVERABILITY. If any clause of this Agreement is held invalid or unenforceable, the rest of this Agreement continues in force.
IN WITNESS WHEREOF the Parties have executed this Agreement on the date first stated above.
SIGNED for and on behalf of the Company
_________________________
__________
__________
SIGNED by the Employee
_________________________
__________
WITNESSES