Dear Seniors,
I have a question:
I am working for a multinational company (MNC) and I have signed a Non-disclosure and Non-compete agreement on a white paper. It states that I cannot work with any of the company's competitors in India after the conclusion or termination of my employment, and I am also restricted from working with any competitor for a period of one and a half years. The agreement stipulates that in the event of a breach, I will be liable to pay one crore rupees as damages. The agreement was signed by me, my employer, and two witnesses.
Despite not receiving a formal job offer letter, Provident Fund (P.F.), or medical benefits, and no deductions from my salary, my employer has only informed me through email that I am hired as labor. However, I am actively involved in overseeing the company's operations. My salary is sent to me via Western Union.
Respected individuals,
Is this agreement legally binding or void?
Am I allowed to seek employment with other companies or competitors?
Can my employer take legal action against me?
I would appreciate your prompt responses and suggestions.
Thanks and regards.
I have a question:
I am working for a multinational company (MNC) and I have signed a Non-disclosure and Non-compete agreement on a white paper. It states that I cannot work with any of the company's competitors in India after the conclusion or termination of my employment, and I am also restricted from working with any competitor for a period of one and a half years. The agreement stipulates that in the event of a breach, I will be liable to pay one crore rupees as damages. The agreement was signed by me, my employer, and two witnesses.
Despite not receiving a formal job offer letter, Provident Fund (P.F.), or medical benefits, and no deductions from my salary, my employer has only informed me through email that I am hired as labor. However, I am actively involved in overseeing the company's operations. My salary is sent to me via Western Union.
Respected individuals,
Is this agreement legally binding or void?
Am I allowed to seek employment with other companies or competitors?
Can my employer take legal action against me?
I would appreciate your prompt responses and suggestions.
Thanks and regards.