Hi All,
I am Chartered Accountant, I have joined in an Pvt Ltd. IT company as Finance exec, at the time of joining they have signed a aggreement mentioning that " employee will be liable to pay Rs.50k, incurred on training, in case he leaves the org. within 1 year" the same agreement was signed on Company's Letter head.
My question is, whether such agreement is valid as per Indian Stamp Act? Should n't it be on Judicial or non judicial Stamp paper?
Can company recover from me such amount, as I haven't been imparted any kind of training?
Further, at the time of joining i wasn't inform the scope of duties exactly, after my joining i came to know I have to clear the back log for 4 months. and now i am feeling immense pressure as cannot handle backlog as well as routine daily work.
So if i put resignation can i fight on a ground that, u can adjust Rs.50k and 2months notice pay, against extra work done ( outside my scope/ not informed to me).
Can i revoke agreement saying its not legally valid as it is not on Stamp paper.
I would appreciate if any one can guide me in this issue.
Thanks to all in advance.
Awaited of some kind of positive response from you all.
Regards
I am Chartered Accountant, I have joined in an Pvt Ltd. IT company as Finance exec, at the time of joining they have signed a aggreement mentioning that " employee will be liable to pay Rs.50k, incurred on training, in case he leaves the org. within 1 year" the same agreement was signed on Company's Letter head.
My question is, whether such agreement is valid as per Indian Stamp Act? Should n't it be on Judicial or non judicial Stamp paper?
Can company recover from me such amount, as I haven't been imparted any kind of training?
Further, at the time of joining i wasn't inform the scope of duties exactly, after my joining i came to know I have to clear the back log for 4 months. and now i am feeling immense pressure as cannot handle backlog as well as routine daily work.
So if i put resignation can i fight on a ground that, u can adjust Rs.50k and 2months notice pay, against extra work done ( outside my scope/ not informed to me).
Can i revoke agreement saying its not legally valid as it is not on Stamp paper.
I would appreciate if any one can guide me in this issue.
Thanks to all in advance.
Awaited of some kind of positive response from you all.
Regards