Employment Contract

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Employment Contract

Post by varunp007 » Sat, 28 Mar 2020 12:34 pm

Recently as my contract expired, I had to urgently find a job, so landed up with a 9 month contract job without a salary hike starting April (anyhow I had got a hike in Feb) when I get another EP.

The withholding tax is 15%.

Meanwhile the job contract states that, I have to pay 1 month of salary in case I resign before 1 year. Furthermore it says that the cost of penalty the Client imposes on the company, in case I leave early, will be borne by me.

Now tell me if its a 9 month contract and I dont see a long term possibility, wont I switch job? There are companies offering 2 years contract as well.

What can be the actual implications if I leave early? I believe maximum I will need to bear the 1 month salary, but is such a contract even legally valid? Any pointers or suggestions are welcome.

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