memorandum of understanding

santosh kumar huded (Querist) 08 May 2010 This query is : Resolved
what are the points that are to be covered in an memorandum of understanding between employer and employee.
1. the employer has agreed to pay salary
2. the employer has agreed to pay certain percentage of profit as commission in the business.
kindly suggest the fomat of the MOU so as to bind both the parties to the MOU and also a format of MOU

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ESTHERPRIYA (Expert) 08 May 2010
It is just an agreement of employment. Other things like breach of MOU, settlement dispute resolution and non-competing clause should be stated in the MOU. The intention of the parties must be in writing is the object of MOU.

Guest (Expert) 08 May 2010
KINDLY NOTE THAT MEMORANDUM OF UNDERSTANDING IS AN AGREEMENT WITH RECOGNISED UNION OF EMPLOYEES AND MANAGEMENT REGARDING TERMS OF EMPLOYMENT OR CHANGE IN TERMS OF EMPLOYMENT INCLUDING SALARY AND OTHER WORKING CONDITIONS AND ALSO PERIOD OF VALIDITY OF SUCH AGREEMENT.
YOU MAY REFER YOUR EARLIER MOU AND ANY CHANGE YOU HAVE TO MODIFY THE SAME.
THANKS.

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