What are the consequences of breach of employment contract?
I want to know the consequences of breach of contract. I am a fresher and had joined a company where I signed a bond(2 years + 6 months training). But I skipped the bond and sent them a resignation letter stating that I will not be able to render my services.If I breach the contract then I have to pay Rs. 60,000 to the company.It was not on any bond paper,I had signed the contract on a sheet. I want to know whether the company can take any legal action against me for breach of contract ?
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Even if it is not on the stamp paper the company can proceed legally. The stamp duty along with penalty will be paid in the court while filing a suit. Your company is having every right to initiate action on you.
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Tags: Employment Agreement Services Agreements Vendor Agreements