![]() ![]() of human resources or employees of an organization. HR policies are corporate established guidelines for handling the training, employment, recruitment, promotion, compensation, etc. Registration is not compulsory, but an added advantage if a company does opt for registration of the NDA. Also, it is important to note that an NDA must be stamped (INR 20 – INR 100) and can be on a company letterhead, in order to be enforceable under the Indian Stamp Act, 1899. The types of NDAs available are Unilateral NDA, Multilateral NDA and Bilateral NDA. These Agreements can be designed to protect the company and be enforceable even after an employee has changed his employer. An employee cannot disclose sensitive information made accessible to him during the tenure of his employment with the company. Indian Law states that IP belongs to the employer when it is unspecified.Ĭonfidentiality Agreement (CA) or Non-Disclosure Agreement (NDA)Ī Non-Disclosure Agreement (NDA) is important to protect any confidential company information, metrics or Intellectual Property. This determines to whom the IP rights belong to if any were developed by the employee during his tenure. The Right To Intellectual Property can also be made into a separate agreement, or incorporated as a sub-clause in the Employment Agreement.Non-poaching agreements are also used as separate clauses or agreements. A non-solicitation clause prevents an employee from poaching customers or clients for rival companies or for his/her personal benefit post-termination of an employment contract.that would be beneficial to a competitor. Such an employee could disclose important trade secrets, company information, etc. A non-compete clause in the employment agreement is essential for some professions to prevent an employee from joining a rival profession immediately after termination of employment.are also covered in an employment agreement. Other terms and conditions regarding salary structure or wages, work timings, additional benefits, employment bonds ( the legal validity of employment bonds in India is still debatable), equity stock option (ESOPs), etc. ![]() In order for an employment contract or agreement to be valid, there should be: offer and acceptance, free consent, legal object, competent contracting parties and consideration as per the Indian Contract Act, 1872. Any breach of contract by either of the parties will make the agreement void. Some of the essential agreements and policies required are: Employment Agreements/ContractsĪn employment agreement is an agreement executed between an employer and an employee for the exchange of services (personal service) in return for compensation. It is essential for a company looking to hire manpower to have certain agreements in place and meet the required compliances established by the Government. ![]()
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