EAI Systems® (India) Private Limited
1st Floor, Kagalwala House, Plot No. 175, Behind Shaman
Wheels, CST Road, Kalina, Bandra Kurla Complex, Santacruz
East, Mumbai, Maharashtra 400098, India
CIN: U72900MH2016PTC283100
EMPLOYMENT AGREEMENT
THIS AGREEMENT is made on the 28th Jan 2025
BETWEEN
EAI Systems (India) Private Limited. a Company incorporated under under the provisions of the
Companies Act, 1956 and having its Registered Office at 1st Floor, Kagalwala House, Plot No. 175,
Behind Shaman Wheels, CST Road, Kalina, Bandra Kurla Complex, Santacruz East, Mumbai,
Maharashtra - 400098. (hereinafter referred to as the Company)
AND
Shridhar, resident of Address: HNo:2/71-Byalhalli K-VTC-Byalhalli-District: Bidar-Karnakata-
Pincode:585415. (hereinafter referred to as the Employee), together referred to as the Parties.
It is agreed that the Company will employ Shridhar, as per SCHEDULE 1 of the Company on the terms
and conditions as laid down in the Annexure to this Agreement appended hereto, and on terms and
conditions as enumerated hereinafter in this Agreement:
1. DEFINITIONS AND INTERPRETATIONS
In this Agreement:
1.1 "Associate Company" means a subsidiary and any other Company which is for the time being a holding
Company of the Company.
1.2 "Calendar Year" means the Calendar year which shall run from the 1st day of January to the 31st day
of December every year.
1.3 "Probation Period" means the initial period of six months extendible by a further period of three months
on the commencement of the Employment of the Employee.
1.4 Words importing one gender include all other genders and words importing the singular include the
plural and vice versa.
1.5 Any reference to a statutory provision shall be deemed to include a reference to any statutory
amendment, modification or re-enactment of it.
1.6 References in this Agreement to any clause, sub-clause, schedule or paragraph without further
designation shall be construed as references to the clause, sub clause, schedule or paragraph of this
Agreement.
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EAI Systems® (India) Private Limited
1st Floor, Kagalwala House, Plot No. 175, Behind Shaman
Wheels, CST Road, Kalina, Bandra Kurla Complex, Santacruz
East, Mumbai, Maharashtra 400098, India
CIN: U72900MH2016PTC283100
2. TERMS OF EMPLOYMENT
2.1 The employment of the Employee shall be deemed to have commenced on the date of actual reporting
in the premises of the Company pursuant to the execution of this Agreement.
2.2 The Employee shall be under the period of probation on commencement of his employment. Period
of probation shall be for six months. The Company shall have the option to extend the period of probation
by a further period of three months, without assigning any reason to the Employee.
3. DUTIES
The Employee shall during his employment with the Company under this Agreement:
3.1 Perform the duties and exercise the powers which the Company may from time to time properly assign
to him in his capacity as [per SCHEDULE 1] or in connection with the business of any of its Associated
Company.
3.2 The Company shall be at liberty to appoint any other person to be [job title as per SCHEDULE 1] of the
Company jointly with the Employee and to assign to him duties and responsibilities identical or similar to
those assigned to the Employee under this Agreement.
4. HOURS OF EMPLOYMENT
4.1 The Employee shall carry out his/her duties for 8.5 hours between 8:30 A.M to 8:30 P.M and during
such hours as the Company may from time to time reasonably require him/her to work. Employee shall
be required to work for a minimum of 42.5 hours per week.
4.2 All employees to need to have prior permission from the reporting manager to work beyond their
permissible working hours;
4.3 Female employees will be allowed to work only until 8:30 PM.
5. PLACE OF EMPLOYMENT
5.1 The Employee’s place of employment shall be Bidar-Karnataka, but the Company shall be entitled to
require the Employee to work at any other place of business of the Company, whether on a temporary or
permanent basis as the Company shall from time to time direct.
5.2 The Company shall be entitled to change the place of employment of the Employee or place him with
any of the Associate Company whether on a temporary or permanent basis. Irrespective of his place of
employment, the Employee shall be governed by the terms and conditions as enumerated under this
Agreement.
5.3 The Employee shall, in the performance of his duties, be required to travel from his place of
employment anywhere within the country or abroad.
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EAI Systems® (India) Private Limited
1st Floor, Kagalwala House, Plot No. 175, Behind Shaman
Wheels, CST Road, Kalina, Bandra Kurla Complex, Santacruz
East, Mumbai, Maharashtra 400098, India
CIN: U72900MH2016PTC283100
6. REMUNERATION
6.1 The Employee shall be entitled to be paid by the Company monthly salary as arrears on or before the
last working day of each month, by direct credit to his bank account. Please refer SCHEDULE 1 in the
annex for the details.
6.2 The Company shall review the Employee’s salary on or around the anniversary of this employment and
the salary rate may be increased, based on his performance and/or any other yardstick which Company
may use as a matter of its policy, with effect from any such review date.
6.3 In addition to the monthly base salary, company might issue discretionary bonuses to the employee
linked to the performance and direct revenue contributions. Employee should treat all aspects of their
remuneration details as strictly confidential and should not be shared with the co-workers directly or
indirectly.
7. LEAVES
7.1 For the purposes of leaves the year shall run from 1st January to 31st December.
7.2 Each employee will be entitled to Privilege leaves of three weeks i.e of 21 days in each year.
Privilege leave if not availed can be accumulated upto two years.
7.3 Any accrued but unutilized leave (Limit allotted upto 11 leaves) will be carry forward to the next calendar
year only.
7.4 Employees who join or leave the Company part way through a year will normally be entitled to leave
on a pro-rata basis relating to completed months and rounded down to the nearest half day.
7.5 Maternity Leave: All Female employees are liable for a maternity leave of 26 weeks as per the
amendment to the Maternity Benefit Act, 2017
8. ABSENCE DUE TO SICKNESS OR INJURY
8.1 If the Employee is unable to attend for work, the Employee must advise the Reporting Manager of the
Company of the reason by 10.00 a.m. on the first day of his absence. Employee must continue to keep the
Reporting Manager informed on a regular basis.
8.2 It is a condition of employment that the Company may require the Employee to be medically
examined by one of the Company Medical Advisers at any time in connection with the sickness causing
the Employee’s absence.
9. DISCRETIONARY LEAVE
9.1 The Company shall on its own discretion grant leaves on prior notice by the Employee. In an emergency
where prior approval cannot be sought the Employee must contact the Director or Manager at the earliest
possible opportunity.
3
EAI Systems® (India) Private Limited
1st Floor, Kagalwala House, Plot No. 175, Behind Shaman
Wheels, CST Road, Kalina, Bandra Kurla Complex, Santacruz
East, Mumbai, Maharashtra 400098, India
CIN: U72900MH2016PTC283100
9.2 Absence from work of the Company for reasons other than personal sickness or injury needs the
agreement of the Director or Manager of the Company.
9.3 Company shall automatically suspend payment of salary and related allowances of the Employee after
his absence for three working days without reasonable explanation. If the Employee’s absence continues
beyond 10 working days it will be assumed that the Employee have terminated the Contract of Employment
without giving the required period of notice.
10. TERMINATION OF CONTRACT
10.1 The Company shall be entitled to terminate the services of the Employee after serving a Notice as per
SHEDULE 1
10.2 The Company shall be further entitled to terminate the services of the Employee after his confirmation.
However, the period of Notice of termination in such a case shall be two months or salary in lieu of the
Notice.
10.3 The Employee shall be entitled to terminate his services with the Company during the period of
probation after serving on the Company a Notice of one month and after his/her confirmation a Notice
of three months.
10.4 The Company may at any time terminate this agreement immediately without notice and without any
liability to make any further payment to the employee if at any time:
1. employee does anything which brings or may bring the Company or any Group Company
into disrepute or is materially adverse to the interests of the Company or any Group
Company;
2. commits any act of gross misconduct affecting the business of the Company or any Group
Company;
3. commits any material or repeated breach of any term of this agreement or refuses or
neglects to comply with any reasonable and lawful directions of the Company;
4. convicted of a criminal offence (other than an offence under any road traffic legislation
for which a fine or non-custodial sentence is imposed);
5. in the reasonable opinion of the Company, negligent or incompetent in the performance
of the Services or if either of them, after notice in writing, wilfully neglects to provide, or
fails to remedy any fault in providing, the Services;
6. commits any breach of the Company’s policies or procedures;
7. commits any offence under the Bribery Act
10.5. Employee if found absent for more than 3 days without informing the reporting manager will be
considered as absconding case and will be followed by termination procedures.
10.7 The Service Company or the Consultant commits any offence under the Bribery Act 2010.
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EAI Systems® (India) Private Limited
1st Floor, Kagalwala House, Plot No. 175, Behind Shaman
Wheels, CST Road, Kalina, Bandra Kurla Complex, Santacruz
East, Mumbai, Maharashtra 400098, India
CIN: U72900MH2016PTC283100
11. CHANGE OF JOB
11.1 The Employee shall be required to accept variation in the content of their job or transfer to a similar
job subject to:
11.1.1 Any such variation of change in job content or transfer being consistent with the type of work
normally undertaken by the Employee.
11.1.2 On terms no less favorable than currently apply to the Employee.
12. SUPPLEMENTARY EARNED INCOME
12.1 The Employee shall not during the employment by the Company undertake any other work with or
without payment in cash or in kind, either as an employee or as a self-employed person.
13. CONFIDENTIALITY
13.1 The Employee shall during the course of his employment under this Agreement keep all the
information in respect of the business and financing of the Company and its dealing transactions and affairs
and likewise in relation to its Associated Companies all of which information is or may be confidential.
13.2 The Employee shall not during or after the period of his employment under this Agreement divulge
to any person whatever or otherwise make use of any trade secret or any confidential information
concerning the business or finances of the Company or any such information concerning its Associated
Companies.
13.3 All notes and memoranda of any trade secrets or confidential information concerning the business of
the Company and Associated Companies or any of its suppliers, agents, distributors or customers which
shall be acquired, received or made by the Employee during the course of his employment shall be the
property of the Company and shall be surrendered by the Employee to the Company on the termination
of his employment or at any time when required by the Company during the course of his employment.
14. INVENTIONS
14.1 The Parties agree that in case of any discovery or creation of Intellectual Property by the Employee
during the course of his employment under this Agreement then in that case the Employee has a special
obligation to further the interests of the Company.
14.2 The Employee if at any time during his employment under this Agreement makes or discovers or
participates in the making or discovery of any Intellectual Properly relating to or capable of being used in
the business for the time being carried on by the Company or any of its Associated Companies full details
of the Intellectual Property shall immediately be communicated to the Company by the Employee and shall
be the absolute property of the Company.
14.3 The Employee shall, at the expense of the Company, supply all such information, data, drawings,
programs, and any other novel software as may be requisite to enable the Company to exploit the
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EAI Systems® (India) Private Limited
1st Floor, Kagalwala House, Plot No. 175, Behind Shaman
Wheels, CST Road, Kalina, Bandra Kurla Complex, Santacruz
East, Mumbai, Maharashtra 400098, India
CIN: U72900MH2016PTC283100
Intellectual Property to the best advantage and shall execute all documents and do all things which may be
necessary or desirable for obtaining patent, copy right or any other protection for the Intellectual Property
in such parts of the world as may be specified by the Company and for vesting the same in the Company
or as it may direct.
14.4 Rights and obligations under this clause shall continue in force after termination of this Agreement in
respect of Intellectual Property made during the employment of the Employee under this Agreement and
shall be binding upon his representatives.
15. NON-SOLICITATION
15.1 The Employee covenants with the Company that he will not, for the period of two years after ceasing
to be employed under this Agreement, without the written permission of the Company in connection with,
or for carrying on of any business similar to or in competition with the business of the Company on his
own behalf or on behalf of any person firm or company directly or indirectly:
15.1.1 seek to procure orders from or do business with any person, firm or company who has at any time
during the two years immediately preceding such cessation, done business with the Company, or Associated
Companies; or
15.1.2 endeavor to entice away from the Company any person who has at any time during the two years
immediately preceding such cessation been employed or engaged by the Company or Associated
Companies.
16. NON-COMPETITION
The Employee covenants with the Company that he will not for the period of two years after ceasing to be
employed under this Agreement either on his own account or for any other person, firm or company solicit
or entice away, or endeavor to solicit or entice away, from the Company or any of its subsidiaries any of
their respective employees. The Employee further covenants with the Company that he will not after
ceasing to be employed under this Agreement, directly or indirectly, alone or jointly or as agent or employee
of any person, firm or Company carry on or engage in any activity or business which shall be in competition
with the business of the Company, Associated or Subsidiary Company.
17. ARBITRATION
17.1 Where any controversy, dispute or disagreement arises between the Employee and the Company as to
the interpretation or application of any of the terms, conditions, requirements or obligation under this
Agreement or the performance hereof which the Parties are unable to resolve by agreement, the Parties
hereby agree to refer the controversy, dispute or disagreement to arbitration of the Companies choice.
17.2 All arbitration proceedings shall be conducted in English and the venue for conducting such
proceedings shall be Mumbai. Judgment upon any arbitral award so rendered may be entered in any Court
having jurisdiction, or application may be made to such Court for a judicial acceptance of the award and an
order to enforcement, as the case may be.
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EAI Systems® (India) Private Limited
1st Floor, Kagalwala House, Plot No. 175, Behind Shaman
Wheels, CST Road, Kalina, Bandra Kurla Complex, Santacruz
East, Mumbai, Maharashtra 400098, India
CIN: U72900MH2016PTC283100
17.3 The Parties hereby agree that a matter may be referred to arbitration as provided herein, the Parties
shall nevertheless, pending the resolution of the controversy, dispute or disagreement, continue to fulfill
their obligations under this Agreement, so far as they are reasonably able to do so.
18. JURISDICTION
18.1 This Agreement is governed by and shall be construed in accordance with the laws of Mumbai
SCHEDULE 1
This Schedule sets out the terms of service agreed between the " EAI Systems (India) Private Limited
" and the "Employee" under this Agreement. For the purposes of this Agreement, the service terms shall
have the following meanings:-
Employee Shridhar
Job Title Senior Developer – Pega Developer
Remuneration INR 20,00,000 / Annum
Bonus Structure NA
Employment Commencement Date 30/01/2025
Term 6 months’ Probation period after commencing work
Notice Period 60 days’ notice after confirmation at work and 30 days
during the probation period
Special Conditions EAI Systems reserves rights to not pay or demand back
money paid if the resource leaves without an
inappropriate notice period.
If the resource leaves the Company’s employment
within one year of the Commencement Date the
company reserve the right to demand cost incurred for
(Visa Expense/Training and Licensing /Administration
overheads) incurred by EAI Systems
For and on behalf of the Company By the Employee
Signed :
Date : 28th Jan 2025 Signed................................................
Name : Manasi Lovlekar Date .................................................
Designation : Director
EAI Systems (India) Private Limited Name : Shridhar
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EAI Systems® (India) Private Limited
1st Floor, Kagalwala House, Plot No. 175, Behind Shaman
Wheels, CST Road, Kalina, Bandra Kurla Complex, Santacruz
East, Mumbai, Maharashtra 400098, India
CIN: U72900MH2016PTC283100
Salary Structure
Salary Structure
Components Amount (in Rs.) Monthly (in Rs.)
Basic 7,93,744 66,145
HRA 3,96,872 33,073
LTA 60,000 5,000
Children Education Allowance 2,400 200
Other Allowance 30,000 2,500
Special Allowance 6,41,565 53,464
Gross Salary (A) 19,24,581 1,60,382
Retirement Benefits:
Employer Contribution to Provident Fund 21,600 1,800
Gratuity 38,179 3,182
Total Retirement Benefits(B) 59,779 4,982
Insurance(C) 15,640 1,303
Total CTC (A+B+C) 20,00,000 1,66,667
For and on behalf of The Company By the Employee
Signed
Date : 28th Jan 2025 Signed......................................
Name : Manasi Lovlekar Date ......................................
Designation : Director
EAI Systems (India) Private Limited Name : Shridhar
