Employment Agreement

 

 EMPLOYMENT AGREEMENT

 

This EMPLOYMENT AGREEMENT (Hereinafter, the “Agreement”)is entered into on the ___ day of _____, ___, by and between ___, a private limited company incorporated under the Companies Act, 2013, having its registered office at _____ (hereinafter referred to as the “Company” or “Employer”), and ____ son of ____ aged ___ years and residing at _____ (hereinafter referred to as the "Employee").

 

In Consideration of this mutual understanding, the parties agree to the following terms and conditions:

 

1)      Employment

The Employee agrees that he or she will faithfully and to the best of their ability to carry out the duties and responsibilities communicated to them by the Employer. The Employee shall comply with all company policies, rules and procedures at all times.

 

2)      Confidential Information

As used in this Agreement, "Confidential Information" refers to any information which has commercial value and is either (i) technical information, including patent, copyright, trade secret and formulae related to the current, future and proposed products and services of Company, or (ii) non-technical information relating to Company's products which includes pricing, finances, financial and accounting data and information, purchasing data, sales and marketing plans, future business plans, and any other information which is proprietary and confidential to Company.

 

3)      Nondisclosure

Recipient will maintain in confidence and will not disclose, disseminate or use any Confidential Information belonging to Company, whether in written form or not. Recipient agrees that Recipient shall treat all Confidential Information of Company with at least the same degree of care as Recipient accords its own Confidential Information. Recipient further represents that Recipient exercises at least reasonable care to protect its own Confidential Information. If Recipient is not an individual, Recipient agrees that Recipient shall disclose Confidential Information only to those of its employees who need to know such information and certifies that such employees have previously signed a copy of this Agreement.

 

4)      Position

Upon execution of this Agreement, the employee would be posted as the Assistant Marketing Manager of the Company.

During the term period of this Agreement, the Company may change the employee's above mentioned post (or position) or location based on the Company's production, operation or working requirements or according to the employee's working capacities and performance, including but not limited to adjustments made to the employee's job description or work place, promotion, work transfer at the same level, and demotion, etc., or adjustments made to the employee's responsibilities without any change to employee's post (or position).

 

5)      Place of Work

The employee agrees to work in the Vanasthali branch of the company. Also, the employee agrees to work at any other site in India that the Employer may deem to be applicable to complete the work.

 

 

 

6)      Work hours

Service hours will be from 08:00 am until 17:00 pm on weekdays and the employee is expected to work half day on Saturday.

 

7)      Salary

The Employee shall receive annual salary, payable in monthly or more frequent installments, as per the convenience of the Employer, an amount of Rupees 10,00,000 per annum, subject to such increases from time to time, as determined by the Employer. Such payments shall be subject to such normal statutory deductions by the Employer.

 

8)      Leave Policy

The Employee is entitled to Ten (10) days of paid casual leaves in a year and Ten (10) days of sick leave. In addition, the Employee will be entitled to Five (5) public holidays mentioned under the Leave Policy of the Employer.

 

9)      Termination

This agreement may be terminated by either party by giving a one month’s written notice of termination of service the one to the other.

 

10)  Governing Law and Jurisdiction

This Agreement shall be governed by and construed in accordance with the laws of Companies Act 2013. Each party hereby irrevocably submits to the exclusive jurisdiction of the courts of Dehradun, for the adjudication of any dispute hereunder or in connection herewith.

 

11)  Separability

The provisions of this Agreement are independent of and separable from each other, and no provision shall be affected or rendered invalid or unenforceable by virtue of the fact that for any reason any of them becomes invalid or unenforceable in whole or in part.

 

 

 

12)  Duration of Employment

The term of the employment will be of 1 year and shall be renewed based on the performance evaluation at the end of the term.

 

IN WITNESS WHEREOF, IN WITNESS WHEREOF, the Parties have executed this Agreement as of the dates written below.

 

    ______                                                                                                      _____

(Employee)                                                                                         (The Employer)

 

Name: ________                                                                               Represented By: _____                                                                                                                      Designation:      _____

Date – ______                                                                                              Date – _______