Interpretation of legal languge in the job offer letter
I recently got an offer from an Indian based IT company. Among other statement like salary etc there is this paragraph in quotes.
"Your appointment to our company is solely based on the representation, made by you, regarding your qualifications and / or experience, which company has relied upon. If it is found at any point of time that your representation regarding your qualifications and / or experience is incorrect and / or false and / or fraudulent and / or forged, the company shall. WITHOUT ANY PREJUDICE TO ITS ANY OTHER RIGHTS, terminate your services with immediate effect and without notice period & without incurring any liability whatsoever thereof. Notwithstanding anything contained herein, you shall indemnify and hold the company harmless from all cost, losses, damages and liabilities that may have caused to the company due to such incorrect and / or false and / or fraudulent and / or forged representation. Company shall be entitled to seek specific performance or other injunctive or equitable relief as a remedy apart from claiming indemnity from you, without limitation, for hiring charges of Rs 500,000 (Rupees five lakh only).By signing this letter, you also irrevocably consent to the company to initiate and perform all necessary background checks as required in and during the course of your employment, either by the company or through any third party authorized by the company in this regard."
I guessed that this whole para applies only & only if one's qualifications/experience are found fraudulent and apart from that to nothing else.
I am concerned with the language of line with Rs 500,000. Does this line applies only & only in case of fraudulent qualifications/experience only or company can later use this line & can ask Rs 500,000 whenever one resigns or if company feels ones performance is poor etc . I am referring to this because of word - "specific performance".
All my qualifications/experience details that I have provided to company are true, so shall I have no fear in signing this offer from a legal standpoint.
Could you please confirm & advice me.