Professional Documents
Culture Documents
Security Deposit
Security Deposit
Date- dd/mm/yyyy
This Agreement is entered into this the <<date of agreement>> between <<Name of the company>>, a
Company registered at <<address of the company>> (hereinafter called the Company) and
Mr./Miss./Mrs. <<Name of the Employee>>, a Indian inhabitant residing at <<Present Address of the
Employee>> and having permanent residing at <<Permanent address of the Employee>> (herein after
referred to as Employee) of the other part
I, [Employee Name] agreed with below contents, terms and conditionCompany has fully rights to terminate the employee from his/her service due to any violation actions, low
performance, misconduct and disabilities by giving [one month / 15 days / 7 Days] notice period.
1) Company will take full / 60% / 70% of salary for the first <three/four/five>month from the
date of joining.
2) Company is liable to pay these three month salary only after the completion of one year service by
employee.
3) Mutual Termination of agreement:
This Agreement may be amended or cancelled by mutual agreement of the parties (employer and
employee) without the consent of any other person.
Conditions:
- Both Parties (Employer and Employee) must be ready to amend or cancel the agreement.
- Termination/Resignation flow will be either Employer to Employee or Employee to
Employer.
- Employee has to inform regarding voluntary resignation in advance of [3months]. Resignation
letter must be signed by the employee and it will be accepted after approval from management
team.
Company is liable to pay full/ 50% / 70% salary of first <three/four/five> month in such
mutual termination of agreement
4) Non-Mutual Termination:
If employee leave before the completion of one year service then company is not liable to pay first
<three/four/five> month salary.
I ACKNOWLEDGE THAT BY SIGNING BELOW, I HAVE READ AND UNDERSTAND ALL OF THE
RULES, PROVISIONS, TERMS AND CONDITIONS WHICH ARE WRITTEN ABOVE IN THIS
AGREEMENT.
I ALSO ACKNOWLEDGE THAT I HAVE RECEIVED A COPY OF THIS AGREEMENT.