Advance on Salary
2
STAFF ADVANCE ON SALARY AGREEMENT This Agreement is made and effective the 28 th September 2010, BETWEEN: Bio-Health Ltd (the “Employer”), a company registered under Companies Division, with Its head office located at Royal Road Beau Bassin AND: ----------------------------------------- (“the Employee”) employed at Bio Health Ltd 1. PROMISE TO PAY Within 20 months from today, Employee promises to pay to Employer the sum of TWENTY THOUSAND rupees only as stated below. 2. RESPONSIBILITY Employee is responsible of repaying back the full amount during her employment at Bio-Health Ltd. If the Employee terminates her employment at Bio-Health Ltd, she will have to repay the outstanding amount due at the time of notice given. 3. ADVANCE BREAKDOWN Amount of Advance: Rs. 20,000 No. of Instalments: 20 (20 months) Starting Repayment Date: End of October 2010 Ending Repayment Date: End of May 2012 4. REPAYMENT Employee will repay the full amount in 20 equal monthly instalments f Rs.1000 (interest free) at the end of each month deducted directly from the salary starting on 28 th October 2010 and ending on 28 th May 2012. 5. PREPAYMENT Employee has the right to prepay the whole outstanding amount at any time. EMPLOYEE EMPLOYER
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Transcript of Advance on Salary
STAFF ADVANCE ON SALARY AGREEMENTThis Agreement is made and effective the 28th September 2010,
BETWEEN:Bio-Health Ltd (the Employer), a company registered under Companies Division, with
Its head office located at Royal Road Beau Bassin
AND:
----------------------------------------- (the Employee) employed at Bio Health Ltd 1. PROMISE TO PAY
Within 20 months from today, Employee promises to pay to Employer the sum of TWENTY THOUSAND rupees only as stated below.2. RESPONSIBILITY
Employee is responsible of repaying back the full amount during her employment at Bio-Health Ltd. If the Employee terminates her employment at Bio-Health Ltd, she will have to repay the outstanding amount due at the time of notice given.3. ADVANCE BREAKDOWN
Amount of Advance:
Rs. 20,000
No. of Instalments:
20 (20 months)
Starting Repayment Date:End of October 2010
Ending Repayment Date:End of May 20124. REPAYMENT
Employee will repay the full amount in 20 equal monthly instalments f Rs.1000 (interest free) at the end of each month deducted directly from the salary starting on 28th October 2010 and ending on 28th May 2012.5. PREPAYMENT
Employee has the right to prepay the whole outstanding amount at any time. EMPLOYEEEMPLOYER
Employee NameVimal ChokoorBio-Health Ltd
