Liquidated damages under service agreement/surety bond

Vijaya Kumar (Querist) 30 May 2013 This query is : Resolved
Sirs,

Please clarify me as to how the liquidated damages are calculated, what components are considered for arriving at the liquidated damages by the employer in case of breach of service agreement for higher education purpose. The said Service Agreement is not signed by the employer and copy thereof was not furnished to the employee and also does not contain notice period for resignation. The resignation letter submitted by the employee was ambiguously replied quoting the Bond of 3 years, whereas the leftover service for 3 years is less than 5 months, and referring the notice period. The job profile is highly fetching for the company on account of the works/projects of foreign clients. The billing from foreign clients is claimed in multiples and multiples of the salary package of the employee.

Any remedial acts within any of the constitutional provisions may please be provided. I note to contact even personally for any remedial acts suggested.

With regards,

R Vijaya Kumar

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Guest (Expert) 30 May 2013
No fixed formula. Depends upon terms & conditions of the bond/agreement read with conditions stipulated in the contract/offer letter/ appointment order.

ajay sethi (Expert) 30 May 2013
it is better you consult a local lawyer . it is necessary to go through the provisions of service agreement signed by employee . , terms of appointment letter

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