Pay to company due to incomplete the service agreement

1) Option 2 - 2 month salary plus 2 months work . But for work you will have to be paid. so essentially you work two months for free.

2) however, what does the Company have to do / pay if they terminate you for any reason ? if nothing, then it is a one sided contract and would not hold in law.

Suggest see a labor lawyer or give complete agreement here . In any case you state that the agreement binds you for one year,while you have already served 18 months. so, apparently, it does not hold anymore.

Mr. Hardeep has given valuable advice. You may follow it. The notice period of 2 months may not necessarily be applicable to you. The notice period/pay is part of service conditions applicable to both employer/employee and is stated I'm various enactments applicable to the establishment e.g. standing orders, Shops and Commercial Establishments Act........Being instrument of law/statue/enactment these shall prevail upon any private agreement that employer might have signed with employee e.g. appointments letter/contract of employment..... etc. The notice period is max. 1 month in these enactments. The rate of notice pay (basic/gross) is also stated in these enactments and can't be more...... . Approach your labor law consultant with confidence.

Thanks Hardeep and Kumar Doab,

 

For the suggestion, Let me explain the whole process. I have passed away approx. 18 months and take increment, when I have taken increment than my service agreement has started for one year again. So after increment i have passed 6 months and still six months are remaining to complete the service agreement. I have write the some of the lines of my service agreement - Please review and tell me that is company has rights to take 2 months salary with serving two months notice period. This agreement is signed on the company template not on any stamp paper.

" however, what does the Company have to do / pay if they terminate you for any reason ?"

There is nothing paid by company if they fire me.

 

Clause to pay by the employee - 

Employee leaves service in breach of this agreement the following services shall be attracted - 

a) Employee pays amount equivalent to 2 months salary to the company. The said  amount has been mutually agreed by and between the parties considering the circumstance of the case and also have the facts including the fact that the laws that will be suffered by the company on this account can not be as certained interms of money and it shall not be open to the employee in the event of any clam being made against him under this agreement. To plead that the amount of damages is excessive or that it tantaamount to penalty or that it is otherwise irrecoverable according to the law.

 

b) In addition to the liquited damages the said employee shall pay to the company as specific damages a sum of money computed as damages actually suffered and atribated directly or indirectly to the pre matured agreement of the agreement at the instance of the said employee by his leaving the service of the company due to misconduct or otherwise, before the completion of the tenure specified here in earlier.

 

The above mention clauses write in my agreement. So please suggest what to do, I will wait for favorable reply.

 

Regards

As far as I can see the Terms will not hold. They are one sided and the " loss" supposedly suffered by the Company due leaving of employee is indeterminate. Also, any terms in contravention of laws as explained by Mr. Kumar will not hold.