I signed a contract with an IT company on Jan 2018 for 3 years. For the sake of the job, I agreed to pay a sum of two lakhs. But for personal reasons, I had to resign within a year. With all oral communications, the company confirmed that I do not have to pay a penny of the agreement. And asked me to resign as a solution to my personal question. I resigned and the company sent me a discharge email and within 7 days they asked me to pay the amount of the loan and also asked me to pay the non-compliance with the notice. I had a word with my HR, MRI, etc. They all said that these things are in agreement. Now you have to pay the amount. They sent me three souvenirs.
And I really don`t have the ability to pay them a sum. What do I do? In Superintendence of Company v. Krishan Mugai, it was found that a trade limitation contract limits the future freedom of one party to another to operate in the manner it chooses. A contract of this type is absolutely null and private, but it becomes binding and valid if it can be proved that it is necessary from the point of view of the parties and the Community. These interests are valid to the extent that they are in the best interests of the employer and are not unreasonable to the worker who receives a salary or salary for the period in question. But if the alliance is to work after the end of services or is formulated too far, the court may refuse the application. Therefore, the demand for the performance of obligations is appropriate. Whether it is 3 or 5 years, it is up to the company to decide. After three years, if the employee`s market value is increased, the company must verify the remuneration so that the loan is respected by the employee and there are no fears/doubts. Hello Sir, I had a 3 year loan on my first job that I had to break into a 1 year service due to a better opportunity, due to the time limitation and threat for my new opportunity, if I did not join in time, I paid 2Laks to this company with a valid experience letter and termination of the acceptance letter to leave. All of this happened in June 2012.
Since then, it has remained in my head that after all the work I have done and my efforts, I have paid everything I had ever earned in this business. Is there ever that I can bring her back to the company after almost 8 years? A contract obligation against a performance issue has different objectives. Clients often ask design professionals to assist in construction projects, either by invitation or through a public tendering process. Owners need to know how to protect themselves if the contractor does not meet the requirements for the contract or if the project is not concluded in accordance with agreed specifications and plans. The validity of employment obligations can be challenged on the basis of section 27 of the Indian Contracts Act. Section 27 of the Indian Contract Act, 1872 prohibits any trade and trade restriction agreement. Any trade and professional agreement under Section 27 is non-acute. On the other hand, a treaty is legally binding and the courts can apply the conditions if they are not met. An agreement is much less rigid and formal.
If there is a dispute between the parties to a contract, each party can bring it to justice. However, most contracts are not brought to justice. In fact, most contracts can be concluded orally, unless there is a definitive reason why the contract must be written. A written contract protects all parties in the event of a problem. A service contract is an agreement between two people or two companies, one is committed to providing a specific service for the other. It may also be an explicit employment company, signed by both the employer and the worker, which specifies the explicit terms of service.