Hello,
I am working for IT firm where i have seen most of employee are moving one company to an other within shorter period.
We have decided to rework on our Employee Contract letter. Our Directors mention that we have to input additional note in contract period, where employees has to work at least 2 years.
If you have any suggestions or any contract formate matching above requirement please forward it to me.
Fiyaz
From Sri Lanka, Colombo
I am working for IT firm where i have seen most of employee are moving one company to an other within shorter period.
We have decided to rework on our Employee Contract letter. Our Directors mention that we have to input additional note in contract period, where employees has to work at least 2 years.
If you have any suggestions or any contract formate matching above requirement please forward it to me.
Fiyaz
From Sri Lanka, Colombo
Dear Fiyaz :lol:
HAPPY NEW YEAR :lol:
Kindly find the format below,
SERVICE AGREEMENT
This AGREEMENT is made at PLACE OF POSTING on the ___________between COMPANY NAME, having its Registered Office, NAME OF PLACE, here in after called the ‘Company’ which expression shall unless repugnant to the context or meaning thereof, mean and include its successors or assigns of the one part.
And Mr. ____________ S/o __________ resident of____________________here in after called ‘DESIGNATION’ which expression shall unless repugnant to the context or meaning thereof, mean and include heirs, executors, administrators and assigns of the other part.
WHEREAS the DESIGNATION has applied to the company for employment.
AND WHEREAS the DESIGNATION has been selected by the company vide its offer of appointment letter number _______________ dated _____________ which offer has been unequivocally accepted by the DESIGNATION’.
AND WHEREAS in terms of the clause C(3) of the service conditions of the said offer of the appointment the DESIGNATION is required to execute a Service Agreement on non-judicial stamp paper in favour of the Company, undertaking to serve the company for at least 3 years for which the DESIGNATION shall be severally bound unto the Company in the sum of AMOUNT/- (Rupees) in terms of the agreement.
NOW THIS AGREEMENT WITNESSETH
1. That the terms and conditions contained in the appointment letter given to the DESIGNATION’and the Service Rules will be treated as part of this Agreement.
2. That the DESIGNATION’ shall not leave the service of the Company before the stipulated period of 3 years from the date of his joining as DESIGNATION’.
3. That the DESIGNATION’ shall be liable to pay the company, as and by way of liquidated damages a sum of Rs. AMOUNT/- (Rupees), if the DESIGNATION’ leaves the service of the Company before completing the service period referred to here in above or brings about a situation by misconduct compelling the Company to terminate his services. It is hereby agreed and declared that the loss that will be suffered by the Company on this account can not be ascertained in terms of money and the sum calculated as aforesaid is reasonable compensation for the breach that may be caused by the employee.
4. That the DESIGNATION’ authorises the company to deduct from his monthly salary a sum equivalent to 10% of the amount of his basic salary. This will be kept as advance with the company towards fulfillment of clause No. 3 above. In case he completes three years of service with the company as per this agreement, the total amount deducted from his salary during these three years shall be refunded to him without interest.
5. That in case of his leaving the services before three years, the company shall be entitled to adjust any amount due to him by way of salary, bonus and leave with wages etc. together with the amount deducted from his salary as per clause no. 4 above and after all adjustments if some amount is determined still payable by him as per this agreement, he shall pay the same forthwith to the company.
6. That Sh.________________ S/O Sh.___________ aged ______ years resident of _____________ stands surety to the DESIGNATION and undertakes to indemnify the Company to the extent of the above mentioned liquidated damages in case the employee fails to make the amount of damages good to the Company.
7. That in case any dispute or difference arises between the parties relating to this Agreement, the same shall be referred to the Chairman & Managing Director of the Company or his nominee, whose decision shall be final and binding on the parties. The provisions of the Arbitration and Conciliation Act, 1996 shall be applicable.
8. That for all intents and purposes this Agreement shall be deemed to have been concluded at HEAD OFFICE and only the courts in Ludhiana shall have the exclusive jurisdiction over any dispute arising out of this Agreement.
IN WITNESS WHEREOF THIS AGREEMENT is executed at PLACE OF POSTING on the day, month and year as mentioned above and both the parties along with the surety put their signatures and seals in the presence of the following witnesses in token of agreeing and accepting the above terms and conditions.
1. ______________________ 2. ______________________
(Signature of the First Party) (Signature of the Second Party)
(The Company) (The DESIGNATION’)
3. ______________________
(Signature of the Surety)
WITNESSES
1. __________________________ 2. ______________________
(Name and Full Address) (Name and Full Address)
I hope this would suffice.
Regards,
Bhavna :)
From India, Lucknow
1HAPPY NEW YEAR :lol:
Kindly find the format below,
SERVICE AGREEMENT
This AGREEMENT is made at PLACE OF POSTING on the ___________between COMPANY NAME, having its Registered Office, NAME OF PLACE, here in after called the ‘Company’ which expression shall unless repugnant to the context or meaning thereof, mean and include its successors or assigns of the one part.
And Mr. ____________ S/o __________ resident of____________________here in after called ‘DESIGNATION’ which expression shall unless repugnant to the context or meaning thereof, mean and include heirs, executors, administrators and assigns of the other part.
WHEREAS the DESIGNATION has applied to the company for employment.
AND WHEREAS the DESIGNATION has been selected by the company vide its offer of appointment letter number _______________ dated _____________ which offer has been unequivocally accepted by the DESIGNATION’.
AND WHEREAS in terms of the clause C(3) of the service conditions of the said offer of the appointment the DESIGNATION is required to execute a Service Agreement on non-judicial stamp paper in favour of the Company, undertaking to serve the company for at least 3 years for which the DESIGNATION shall be severally bound unto the Company in the sum of AMOUNT/- (Rupees) in terms of the agreement.
NOW THIS AGREEMENT WITNESSETH
1. That the terms and conditions contained in the appointment letter given to the DESIGNATION’and the Service Rules will be treated as part of this Agreement.
2. That the DESIGNATION’ shall not leave the service of the Company before the stipulated period of 3 years from the date of his joining as DESIGNATION’.
3. That the DESIGNATION’ shall be liable to pay the company, as and by way of liquidated damages a sum of Rs. AMOUNT/- (Rupees), if the DESIGNATION’ leaves the service of the Company before completing the service period referred to here in above or brings about a situation by misconduct compelling the Company to terminate his services. It is hereby agreed and declared that the loss that will be suffered by the Company on this account can not be ascertained in terms of money and the sum calculated as aforesaid is reasonable compensation for the breach that may be caused by the employee.
4. That the DESIGNATION’ authorises the company to deduct from his monthly salary a sum equivalent to 10% of the amount of his basic salary. This will be kept as advance with the company towards fulfillment of clause No. 3 above. In case he completes three years of service with the company as per this agreement, the total amount deducted from his salary during these three years shall be refunded to him without interest.
5. That in case of his leaving the services before three years, the company shall be entitled to adjust any amount due to him by way of salary, bonus and leave with wages etc. together with the amount deducted from his salary as per clause no. 4 above and after all adjustments if some amount is determined still payable by him as per this agreement, he shall pay the same forthwith to the company.
6. That Sh.________________ S/O Sh.___________ aged ______ years resident of _____________ stands surety to the DESIGNATION and undertakes to indemnify the Company to the extent of the above mentioned liquidated damages in case the employee fails to make the amount of damages good to the Company.
7. That in case any dispute or difference arises between the parties relating to this Agreement, the same shall be referred to the Chairman & Managing Director of the Company or his nominee, whose decision shall be final and binding on the parties. The provisions of the Arbitration and Conciliation Act, 1996 shall be applicable.
8. That for all intents and purposes this Agreement shall be deemed to have been concluded at HEAD OFFICE and only the courts in Ludhiana shall have the exclusive jurisdiction over any dispute arising out of this Agreement.
IN WITNESS WHEREOF THIS AGREEMENT is executed at PLACE OF POSTING on the day, month and year as mentioned above and both the parties along with the surety put their signatures and seals in the presence of the following witnesses in token of agreeing and accepting the above terms and conditions.
1. ______________________ 2. ______________________
(Signature of the First Party) (Signature of the Second Party)
(The Company) (The DESIGNATION’)
3. ______________________
(Signature of the Surety)
WITNESSES
1. __________________________ 2. ______________________
(Name and Full Address) (Name and Full Address)
I hope this would suffice.
Regards,
Bhavna :)
From India, Lucknow
Hi everyone...can anyone post me the important terms and conditions that all should be included in the offer/appointment/aggrement letters...
From India, Hyderabad
From India, Hyderabad
Dear All
My friend has a small startup in the IT software services/product development area. He wants to hire temporary employees for a period of 1 year on a fixed salary (depending upon how it fares, he might extend employment on a permanent basis later). Please let me know on the following:
1. What is the format or draft of the offer letter with terms and conditions.
2. What should be the minimum wage that should be paid (in AP)
3. Does he need to maintain a formal payroll if the employee strength is less than 10.
4. What about the statute on providing other benefits like insurance etc. to these temporary employees.
5. What are the other top legal things that should be kept in place.
The company is a small one with limited budget to start with. can't afford a huge consultancy fees. Hence asking many questions here.
Also if there is any one who can help me for some small but reasonable fee on the above HR/Legal aspects I would love to hear.
Please help ASAP. Thanks so much in advance.
From India
My friend has a small startup in the IT software services/product development area. He wants to hire temporary employees for a period of 1 year on a fixed salary (depending upon how it fares, he might extend employment on a permanent basis later). Please let me know on the following:
1. What is the format or draft of the offer letter with terms and conditions.
2. What should be the minimum wage that should be paid (in AP)
3. Does he need to maintain a formal payroll if the employee strength is less than 10.
4. What about the statute on providing other benefits like insurance etc. to these temporary employees.
5. What are the other top legal things that should be kept in place.
The company is a small one with limited budget to start with. can't afford a huge consultancy fees. Hence asking many questions here.
Also if there is any one who can help me for some small but reasonable fee on the above HR/Legal aspects I would love to hear.
Please help ASAP. Thanks so much in advance.
From India
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
Contract Letter to an Employee for fixed period.doc