Dear freinds, SERVICE AGREEMENT
This Agreement is made __________ (hereafter referred to as “the Company”) of the one part, and _________________________ (hereinafter referred to as “the Agency”) of the other part.
BOTH PARTIES HEREBY AGREE AS FOLLOWS :
This Agreement shall be effective from ____________ and valid for a period of one year from commencement.
Both the parties can terminate for convenience this Agreement, at any time for any reason upon written notice of one month to the other parties.
Scope of Services
Based on the requirements of the Company for various positions, the Agency will identify appropriate persons through either any one or a combination of means such as external advertising, in house search of existing data bank and headhunting. After in house assessments of the relevant skills and interviews, the Agency will send resumes of short listed appropriate candidates to the Company for their review. Based on the Company’s input, the Agency would arrange for interviews with Company personnel.
To facilitate the above the Company will :-
• For all positions, define and provide the Agency, recruitment criterion for each of the job family.
• Designate an Executive who would be a person of authority, to facilitate day-to-day coordination.
• Provide a day’s induction to the Agency team designated to the account, to observe the interviews and understand the job/ process requirements.
• Allocate one day of the week, for a detailed feedback on the candidates forwarded by the Agency to the Company during that week.
• Provide the Agency a quarterly rolling plan of their staffing requirements, along with the job specifications at the beginning of every month.
• Inform the Agency of any duplication of candidates within two days of receipt of the candidature.
• Treat all information regarding technology, tests, processes etc. in strictest confidence.
Upon selection of the candidate recommended by the Agency, the Company will pay the Agency for the services rendered along terms as follows:
• ________ for Junior Level.
• ________ for Middle Level.
• _________ for Senior level.
Gross Annual compensation would cover the employee’s total cost to company including Basic, HRA/CLA, Fixed Allowances, LTA, Medical, Car related reimbursements, Retirals, Assured Performance Bonus. It would not include any component of a Variable nature such as Company Bonus/Ex-gratia and Variable Performance Incentives that may be decided by the management from time to time.
Taxes and levies if any, shall be extra
On selection, the Company must give the Agency a complete breakup of the compensation offered to enable the Agency to bill the Company (shall be kept in strict confidence). In case some of the profiles are not short listed, the Company will return the CVs to the Agency.
All payments are to be made, after deduction of the applicable tax deduction at source, within 30 days of the Agency raising the invoice after the candidate joins the company, by way of an account payee cheque in favour of the Agency.
All requisitions and requests and other work related communication from the company would be in writing.
Unless otherwise agreed in writing, the company will not hire or solicit the employment of the agencies personnel without mutual consent during the period of agreement and six months thereafter for themselves.
In case of a breach of contact the company would be liable to pay the agency three months cost to company of the person.
In case any employee recruited through the Agency leaves the Company within 3 month of having been recruited, the Agency shall then recruit a new employee to fill such a position and for the same, the Agency shall incur the complete cost of such recruitment.
Both the agency and the company shall at all times keep the information provided by each other in complete confidence.
For _____________ For ________________
Authorized Signatory Authorized Signatory
Sidheshwar 9th September 2006 From India, Bangalore