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Author Topic: Possible fraud: free residence given with new employment contract  (Read 851 times)

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Offline moonraker

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Hi,

A travel company has registered itself and is starting new operations in India. They are offering a large salary along with a 1 BHK flat in Neemrana worth INR 20+ lakh, for which the company will pay all EMIs. There is no option to reject the flat. All employees have to sign the contract on that basis.

If an employee leaves before a certain period (there is also a 2-year bond), he or she will have to sign over the flat to the employer.

I would like to know what kind of fraud, if any, is being perpetrated, and what could be the liability for the employee in the event of early exit.

One of the people on the board of the company is also a promoter/board member of 6 to 7 travel companies registered in India, all with INR 1 lakh share capital and all of which appear to be non-operational/non-existent.

Thanks,

Ritu

Offline advocate-lyngdoh

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Re: Possible fraud: free residence given with new employment contract
« Reply #1 on: June 25, 2015, 07:52:30 PM »
when you suspect it is a fraud than why are you wasting your time over it.

stay away is my advice.

A private company has the power to create by laws for its functioning, there is nothing much you can do if you sign their agreement.

Advocate Lyngdoh
Laitumkhrah, Shillong

Offline moonraker

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Re: Possible fraud: free residence given with new employment contract
« Reply #2 on: June 27, 2015, 02:53:40 AM »
Thanks for the prompt response.

A relative of mine is being obstinate about this job for reasons of his own, when everything indicates that it is most probably an employment scam to sell a few flats.

 

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