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Subject: Employment Agreement
We refer to your application dated __________ and the subsequent interviews and discussions you had with us. In this regard, we are pleased to offer you the position of __________ on the terms and conditions stated herein (“Agreement”).
Date of Joining (Effective Date): __________
Gross Annual Salary: __________
* The detailed breakdown of salary structure is provided in Exhibit A.
**Bonus if applicable for your position will be on the terms as detailed below.
***Commission, if applicable for your position will be on the terms as detailed below.
You will be under probation from the Effective Date for __________ months and you may be confirmed as a permanent employee on successful completion of probation. We may extend the period of probation for a further period as decided by us.
Your job location will be at __________, however, we may require you to work at other locations including any client location, in India or abroad, whether on a temporary or permanent basis as we may decide from time to time.
The monthly salary, commission and bonus if applicable will be paid to you by crediting your bank account on the __________ day of every next month.
You may be eligible for a bonus at the end of financial year or at such other intervals decided by us subject to you being considered eligible for bonus. We may take into consideration multiple factors for deciding your eligibility including but not limited to your performance, quality score, achievement of any targets set by us and finally our overall business performance.
We will review your performance on an annual basis or at such other intervals as we may decide and the Gross Annual Salary may be increased, based on your performance or any other parameters which we may lay down from time to time.
Taxes and Deductions
The monthly net salary, other benefits including any relocation benefits, bonus and commission (if applicable) will be paid to you after applicable tax deductions, withholdings, and any debts owed by you to us.
Your work timings and days shall be __________ or at such other timings/days as we may direct from time to time provided that you will be required to work for a minimum of 40 hours per week.
Leaves and Holidays
- You will be entitled to 10 days of holidays in a year.
- You will be entitled to 4 casual leaves per year which will be credited at the end of every quarter and which can be carried forward to the next year subject to a total accumulation of 12 leaves.
- You will be entitled to 20 days of earned leaves in a year which will be credited at the commencement of every year and which cannot be carried forward to the next year.
- All leaves will be subject to approval by your reporting manager and as per the guidelines laid down in our Leave Policy.
We will provide relocation benefits amounting to __________ subject to you producing the relevant documentation to our satisfaction. Relocation benefits will be recovered from you in case this Agreement is terminated for any reason within six (6) months of the Effective Date.
You agree to devote your full time and attention to provide services and perform such other duties as required by us. You shall at all times, be subject to and bound by the policies, rules, procedures and regulations laid down by us.
You agree that during the course of your employment with us you will come in possession of our proprietary information, know-how, trade secrets, client data, personal data, intellectual property rights, techniques, ideas, notes, materials, documents including but not limited to any of our financial or critical information regarding the business. You agree to keep all such information highly confidential and shall not disclose to any third party without our prior written consent.
All intellectual property including without limitation any copyrights, trademark, patents, trade secrets, designs, belonging to us or developed by you during the course of providing services to us (“Intellectual Property”) will be our sole property.
During the term of this Agreement, you will not without our prior written permission solicit, hire, entice or induce any of our employees or independent consultants to terminate such employment or engagement or relationship with us.
You will not engage in any work for another employer that is related to or in competition with us or carry on any services or business which is in competition with us during the term of this Agreement.
- Either of us may terminate this Agreement by providing thirty (30) days written notice to the other party.
- We may terminate this Agreement without notice if you engage in any misconduct or breach of this Agreement including but not limited to acts of misappropriation of funds, improper conduct or harassment including sexual harassment, breach of ethical duties, failure to adhere to our code of conduct or policies, breach of confidentiality or security, or breach of any applicable laws.
Upon termination of this Agreement, you will hand over all documents and materials constituting our property including Confidential Information.
You will retire at the age of 58 years.
This Agreement will be governed by the laws of India and the __________ courts will have exclusive jurisdiction to decide any dispute concerning this Agreement.
All notices and communications given under this Agreement shall be in writing and will be delivered by email or by post at the address set out in the heading/first page of this Agreement.
This Agreement, including the Exhibits, constitutes the entire understanding between us and supersedes all prior agreements or understandings, express or implied, written or oral.
You acknowledge and agree that in the event of a breach of this Agreement by you, we will suffer irreparable harm and will therefore be entitled to seek injunctive relief to enforce this Agreement.
If any provision of this Agreement shall be found invalid or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.
- You agree that the compensation, benefits and other terms provided under this Agreement may be subject to change from time to time.
- It is a condition of this Agreement that you will have to undergo a medical examination and should be found medically fit by our empanelled medical practitioners.
ACCEPTANCE OF EMPLOYMENT TERMS AND CONDITIONS
I agree that I have read, understand, and accept employment with __________ under the terms and conditions stated above.
Please sign below to confirm that you agree with the terms and conditions stated in this offer.
Date of Joining:
1. Monthly Components
- Basic Salary: __________
- House Rent Allowance: __________
- Conveyance Allowance: __________
- Medical Allowance: __________
- Leave Travel Allowance: __________
- Bonus: __________
- Commission: __________
- Special Allowance: __________
Monthly Gross Salary: __________
- Provident Fund: __________
- Insurance: __________
Total Gross Salary (1+2): __________