Value of stamp paper to be used for agreement

Rs.100/- stamp paper is enough.

for agreement rs.100 stamp paper is required , notorized it or registered it in The sub -registrar office , The value to notorized or registered is that it has eveidentry value and if it violates by either party then It will be enforced by the court of law.

Rs.100/- worth Non judicial Stamp paper is enough. it can be maintainable, even if it is not Notarized.

If it is not notarized and the Employee violates any clause in it ( say before one year from the date of starting the agreement ), how should I proceed with the issue?

Agreement of Rs. 100/- non judicial stamp paper will solve the issue.

Dear Fabin,

                   Firstly as per labour laws in our country, a bond is not legitimate and also the Apex court in one of the recent judgements has mentioned the same. Secondly, if even not notarized a document can be used as evidence in court of law! I will try and search for the judgement.

Many prominent IT companies and other industries as well, are using employment bond to keep staff atleast for one year. All these paper work have nothing good to do? Such a judgement will affect companies in keeping talent as they spend resources for training and other activities.

Yes. This is absoluetly true and correct. However, Labour laws do not permit the same and also neither does the Contract Act permit the same. It may not be expressly stated but implied meaning has been applied by the courts and cases fought on merit have always been in the favour of non-contract/bond with employee.