Dear All,
We have a non- compete and non- disclosure agreement in our company which says that the employee will not join any of our company competitor or similar business for 5 years after leaving our company( for any reason)
In the lieu of the above the employee also has to submit an undated cheque or 6 months gross salary in the name of the company, so that in case the employee violates the agreement, company can use this cheque to cover losses.
do you think this is valid?? will such a thing stand in the court of law.. please advise.
Regards
Mitali
We have a non- compete and non- disclosure agreement in our company which says that the employee will not join any of our company competitor or similar business for 5 years after leaving our company( for any reason)
In the lieu of the above the employee also has to submit an undated cheque or 6 months gross salary in the name of the company, so that in case the employee violates the agreement, company can use this cheque to cover losses.
do you think this is valid?? will such a thing stand in the court of law.. please advise.
Regards
Mitali