Hi,
I work for Company A and due to service tax avoiding purpose(all legal I suppose), I have been offered employment letter of another company B. Directors of both A & B know each other and therefore, they have come to this agreement. I have a Non-compete agreement with Company A, which is valid for 1 year post leaving the company and offer letter of A says that I need prior written consent from A to work for any other company. Both companies are based out of India. If I agree to new offer letter, I will get all my future salary and bonus from B and not from A. Salary slips, form 16 etc will all come from I have following doubts:
1. Since, I am not getting any exit from A, can I be employee of two companies simultaneously i.e. is it legal in India?
2. Offer letter from A mentions a monthly salary, which I wouldn't be getting once I become employee of B. So is A legally bound to give me a salary? If A doesn't provide me with any salary, even then do I have to file tax returns on that?
3. When I will leave this job from A/B, will I have to resign from A or B or both?
4. For generic purposes like opening a Bank Account etc, whose employement will I be showing (I will have salary slips only from B)?
Regards
I work for Company A and due to service tax avoiding purpose(all legal I suppose), I have been offered employment letter of another company B. Directors of both A & B know each other and therefore, they have come to this agreement. I have a Non-compete agreement with Company A, which is valid for 1 year post leaving the company and offer letter of A says that I need prior written consent from A to work for any other company. Both companies are based out of India. If I agree to new offer letter, I will get all my future salary and bonus from B and not from A. Salary slips, form 16 etc will all come from I have following doubts:
1. Since, I am not getting any exit from A, can I be employee of two companies simultaneously i.e. is it legal in India?
2. Offer letter from A mentions a monthly salary, which I wouldn't be getting once I become employee of B. So is A legally bound to give me a salary? If A doesn't provide me with any salary, even then do I have to file tax returns on that?
3. When I will leave this job from A/B, will I have to resign from A or B or both?
4. For generic purposes like opening a Bank Account etc, whose employement will I be showing (I will have salary slips only from B)?
Regards