indemnity clause in service agreement and stamp duty thereon

Swaroop Godbole (Querist) 11 May 2010 This query is : Open
1. there is a employment agreement between employer and employee.

2. there is a indemnity clause as if the employer faces any loss, liability because of the act of the employee then the employee shall indemnify the same to the employer.

3. what are the implications under Bombay Stamp Act?

4. is there any stamp duty payable on the said employment agreement?

5. if no stamp duty has been paid then whether the indemnity clause is enforceable??

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