The company executed a loan on a single paper for two years and I spent 1.4 years in the company, because I got a better opportunity, which I already gave two months before the company, which I spent 1.10 days and the employers are waiting for me and even they have not accepted my resignation and even they threaten me not to give NOC. Nor do they have a copy of these obligations. Please Guide A job loan is a contract that prevents employees from committing certain acts. The employment obligation is an agreement reached by the company and the employee in all conditions of employment. For a employment loan to be valid under Indian law, it is necessary to prove that it is necessary for commercial freedom. If the employer can prove that the employee joins the competitor to disclose the secrecy of the cases, the court may issue a referral order preventing the worker from joining the competitor. Where an agreement is challenged for breach of the trade restriction provision, it is up to the contracting party to demonstrate that a deference is reasonably necessary to protect its interests. [2] I had signed a contract with an IT company on Jan 2018 for 3 years. For the sake of the job, I agreed to pay a sum of two lakhs. But for personal reasons, I had to resign within a year. With all oral communications, the company confirmed that I do not have to pay a penny of the agreement.

And asked me to resign as a solution to my personal question. I resigned and the company sent me a discharge email and within 7 days they asked me to pay the amount of the loan and also asked me to pay the non-compliance with the notice. I had a word with my HR, MRI, etc. They all said that these things are in agreement. Now you have to pay the amount. They sent me three souvenirs. And I really don`t have the ability to pay them a sum. What do I do? This agreement was reached on the date of the [place], (20) between [employer name], a registered business/company registered in [country name], with its office of ` Under Indian law, employment contracts with negative alliances are valid and legally applicable if the parties accept their free consent, i.e. without fraud, without coercion, without undue influence, errors and misrepresentations. The Indian courts have held that in the event of the worker`s failure, the employer is only entitled to damages if the employer has to bear significant costs.

Indian law states that employment obligations are „reasonable“ to be valid. The term „appropriate“ is not indefinite in Indian law and, therefore, the courts have given a „reasonable“ meaning based on the facts and circumstances of the cases. The proposal that has emerged so far is that the terms set by the treaty should be necessary to protect the interests of the employer and compensate for the damage caused by the infringement. In addition, the penalty or mandatory period of employment should not be exorbitant. Employees are aware of the importance of a discharge letter that may require them to complete the loan period. A handful will negotiate with their new employer, but they would avoid it if they could. There is a need to discuss the necessity and applicability of personnel obligations under Indian law. A loan contract is a recorded promise made by an employee to the employer that promises the employer to pay a certain amount to the employer if it leaves the organization before the agreed deadline.