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Is it necessary under Indian employment laws to have Employment Agreement between the Company and its Sr. Executives? If so, should it be stamped?
Although the terms of employment of the Executives are not governed by statute or statutory rules under Indian employment laws, it is essential to have an Employment Agreement between the Company and it’s Senior Executives. The provisions of Indian Contract Act shall be applicable since the terms of employment are required to be decided by way of agreement. Recent trends show that the Senior Executives leave their jobs without notice and sometimes even join competitors…
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