Hello, I am quoting the agreement as it is. I would like to clarify that INR 11 lacs wasnot the total amount of course fee including living expenses etc. It amounts to much more.
"" This agreement made at this day of xxxx xx, 2014 between M/s xxxx xxxxx Pvt. Ltd. (hereinafter called "the company" which expression shall include its successors), registered under the provisions of the Indian companies Act 1956 and having its registered office at xxxxxx Delhi, and Mr. xxxxxxx (Employee) son of Mr. xxxxxx, resident of xxxxxx hereinafter called "employee" (which expression shall, unless repungant to the context or meaning thereof, mean and include his heirs, executors and administrators) of the pther part.
The employee of M/s xxxxxx Pvt. Ltd. is going to pursue xxxxxxx degree (from xxxx 14 to xxxx 16) and whereas the employee is required to provide an independant undertaking as herein appearing to backup the obligation and liabilities of the employee as a condition on return after completion of the said course.
Now this agreement witnesseth:
1. The company agrees to support the employee and also agrees to continously pay the Salary in INR, amounting to INR 48,325/- per month (Net of Taxes and applicable statutory deductions) for pursuing the above mentioned course.
2. The employee shall on his return to India after completion of the course shall join his duties in the COmpany immediately and serve the company at least for a period of three years continuosly from the date of resumption of duties in India. During the said period the employee shall not seek employment or enter into employment with any other employer or actively be engaged or be employed in any other business or similar business as that of the Company. The failure of the employee to serve the company as aforesaid shall be breach of this agreement (of which the Company will be the sole judge) with all its legal consequences.
3. If at any time during the employment the said employee shall be guilty of misconduct of any wilful breach of continuos negligence of the terms of this agreement or dereliction of the duties, the company may, without notice, put an end and determine the employment of the said employee in te Company. THe employee shall be deemed to have brought about such situation by his misconduct compelling the company to put an end to his services and the employee shall therefore, continue to be liable for all losses/damages to the Company.
4. The Company shall not ordinarily terminate the services of the employee during the continuance of the agreed tenunre of THree years except for the reasons mentioned in clause 3 above but if it becomes necessary to dispense with the services of the employee, the Company shall give oen month's notice or pay in lieu thereof to the employee and te Company shall not claim any refund of the Basic Salary paid to the employee during the tenure of his Course.
5. THe employee shall be liable to pay to company as and by way of compensation of a sum of Rupees 11,00,000/- (Rs. Eleven Lakhs Only) on Non-Resumption of Duty after te completion of the course or in the event the employee leaving the Organization before the completion of the agreed tenure of THree years.
6. All the terms and conditions of the services as contained in the letter of appointment shall remain in force and operation, except to the extent of the same is contradictory to the terms of this agreement and to that extent the terms of this agreement contained herein shall prevail.
7. Upon the termination of the employment of the employee during the period of this agreement either by the Company for reasons stated in Clause 3 above, or upon termination of employment by the employee, the employee shall not for a period of one year from the date of his joining duties in India or in case he fails to join his duties in India, from the date of his return to India, undertake to carry on either alone or in partnership or be employed with any concern or be interested directly or indirectly in any capacity whatsoever in the similar business.
8. All inventions, designs, improvements, and all discoveries and secret processes made, discovered or effected by the employee during the period of this agreement shall vest in the company.
9. The employee shall not, during or after te termination of this agreement canvas, solicit, intrfere with or entice away any person who shall at any time, during the continuance of the employee's employment hereunder, have been un the employment and/ or in business relations with the Company.
10. In te event of any dispute or difference arising between parties hereto either during the subsistence of his agreement or afterwards the same would be referred to Arbitration and Conciliation Act, 1996 or any statutory Arbitration or re-enactment thereof for the time being in force shall be applicable. New Delhi courts alone will have jurisdiction in all matters connected with this agreement.
In witness,................................
My intention is to pay the money, however is it possible to return the money the way it was paid to me?
