Rs 10 Stamp Paper

Querist : Anonymous (Querist) 05 January 2011 This query is : Resolved
HI My name is Rick. I have recently join one company and signed an employee Service Agreement on Rs. 10 Stamp Paper where it is mentioned if I left job before 12 months I have to pay 3 months salary and I will be prohibited to join any other organization for other 3 months. Please let me know how relevant is Agreement on Rs. 10 Stamp Paper.

Please suggest I am in deep trouble.

Thanks & Regards,
Rick John

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adv. rajeev ( rajoo ) (Expert) 05 January 2011
This agreement is valid.

Heaven 2011 (Expert) 05 January 2011
Dear, here the issue is not the stamp paper. the issue is the terms of the agreement why you have signed this clause??? before you sign you should assess the implication of it.However so far the rupee matter is concerned it is ok. But you may request to redraft a fresh agreement deleting the second clause.

Amit Minocha (Expert) 05 January 2011
Since you admit rest of the terms of the agreement, you shall have to pay. Denomination of paper has not relevance.

Gulshan Tanwar (Expert) 06 January 2011
Whether the agreement was registered document or not, it is also a matter and further SC had given new guidelines for the same.

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