MEMORANDUM OF UNDERSTANDING

This Memorandum of Understanding entered into the day of xxxx2015, into between
Annamalai University represented by THE REGISTRAR.(herein after referred to as
party of FIRST PART ) which term shall mean and include the successors,
representatives and assigns of the FIRST PART, and M/S. Winsofts-Chidambaram a
company having its office at 165,East Car Street,Chidambaram represented by its
proprietor Ms.K.Nirmala D/O .R.Kothandaraman(Herein after referred to as the party of
the SECOND PART)
Whereas the party of the SECOND PART is the principal organization having the full
ownership and authority to conduct training PG graduates and caters to the need of
college students using Tally, the business solution software in the field of Accounting,
Inventory and Information Management.
Whereas there is a need for imparting education to the students of the party of the FIRST
PART, the party of the SECOND PART agrees to conduct the training programme at the
venue of the premises of the party of the FIRST PART.
WHEREAS the party of the FIRST PART accepts the proposal of the party of the
SECOND PART to conduct the training programme and therefore both the parties agree
to set forth their hands with the following terms and conditions.
Now the Memorandum of Understanding witnesseth:
1. The party of the FIRST PART will provide adequate space and
infrastructure for required running the Tally course
2. The study material are to be provided by the party of the SECOND PART, as
prescribed by the party of SECOND PART mentioned in SCHEDULE-1 after
receiving the Initial Course Material Payment from the party of the FIRST
PART as mentioned in SCHEDULE-3
3. The teaching staff and other faculties are to be arranged by the party of the
SECOND PART as mentioned in SCHEDULE-4
4. The fee structure of the course will be as illustrated in SCHEDULE-2
5. The enrollment of students in batches (Tally ERP 9.Fundamental course
Minimum 25 nos per Batch, Tally Modular course minimum 10 nos per Batch
Morning / Evening), and collection of fees are to be managed by the party of
FIRST PART.
6. It is the responsibility of the party of the FIRST PART to collect the fees in full

from the students.

7. The party of the FIRST PART agrees to release the initial amount as per
SCHEDULE-3 pertaining to the training kit to the party of the SECOND PART,
by the way of cash /
Demand Draft favoring Winsofts payable at
Chidambaram ten days prior to the commencement of the training programme.
8. The installation of the legal copy of Tally Software for the particular training
programme shall be done by the party of the SECOND PART
9. The software maintenance is to be taken care of by the party of the SECOND
PART. However the physical custody and safety lies with the party of the FIRST
PART.
10. The University holidays / rules /laws are applicable to this study centre and also
matters regarding indiscipline or violation of rules by students are to be dealt with
by the party of the FIRST PART as per the University regulation.
11. The party of the FIRST PART shall not enter into any such agreement / tie-up
with any other training institute or it shall not on its own conduct the training
programme for the particular course for which the agreement has been entered
into between both the parties during the period while the agreement is in force.
12. The party of the FIRST PART shall be obliged to communicate, without undue
delay and in writing any problem that may arise in the conduct of training
programme so as to enable the party of the SECOND PART to give necessary
guidance and take steps to rectify or correct.
13. The party of the FIRST PART agrees to provide alternate arrangement with
necessary infrastructure for smooth functioning of training programme if due to
any reason whatsoever the training programme is interrupted.
14. The party of the SECOND PART shall issue course certificate to the students
within 15 days from the completion of the training programme.
15. The sharing proportion is 60% to the FIRST PART and 40% to the SECOND
PART.(After reduction of kit amount Rs.1240/- per student for Tally ERP 9
Fundamental,Rs.2850/- per student for Tally Modular course and 50% of
Staff salary )
16. Two faculty shall be appointed for imparting training to the student for specified
duration and each trainee shall be paid Rs.5,000 per month. 50% salary of the
expenses toward faculty members shall be bore by the party of the FIRST PART
and 50 % of total salary amount shall be borne by party of the SECOND PART.
This 50% of total salary amount shall be added to the share payable to the party of

the SECOND PART. Since the party of the SECOND PART pays the staff
salary.
17. At the end of training every batch, accounts will be closed and the sharing will be
done as illustrated in SCHEDULE-3.
18. The agreement is valid for three years and may be renewed with the mutual
consent and acceptance by both the parties.
19. In case of addition of any other training products from the part of the SECOND
PART the necessary separate schedule shall be prepared and attached with this
agreement from time to time.
20. The exam will be conducted by Tally Education Private Limited On line
Exam.
21. The agreement is effective from /-/-2015.

SCHEDULE -1

1. The courses offered

2. Study material and
3. Certificate details
1. Course Name

: 1. Type A. Tally ERP 9 Fundamental

2. Type B. Tally ERP 9 Modular (Basic)

2. Study Material

:
Tally ERP 9 Fundamental
Basic Accounting and Inventory
Tally ERP 9 Modular (Basic)
Vol I.Basic Accounting and Inventory
Vol II. Advanced Accounting and Inventory
Vol III. VAT.TDS and Service Tax

The course materials are prepared by Owner of

Tally-Tally Education P Limited -Bangalore.

3. Tally ERP Certificate:

.
Authorized Certification by Tally Education Pvt
Ltd-Bangalore (Verifiable Certificate)
SCHEDULE-2
FEE STRUCTURE

Fee per student Rs.3,540/- Tally ERP 9

Fundamental

Fee per student Rs. 9100 /- Tally ERP 9

Modular (Basic)

SCHEDULE-3
SHARING STRUCTURE AND PAYMENT SCHEDULE.
TYPE A. TALLY ERP 9 FUNDAMENTAL

A. Student Fees Collection

No of Students
Fees per Students-Tally Fundamental(demand)
Total Amount

50 nos.

:
:

Rs.

3540.00

Rs.

177000.00

Rs.

62000.00

Rs.

10,000.00

Rs.

72000.00

Rs.

105000.00

The Sharing proportion is :

40% of Rs.105000/- to Winsofts

Rs.

42000.00

60% of Rs.105000/- to the University

Rs.

63000.00

B. Expense involved(Break-up)
Tally training kit/ Registration fee
(Payable to M/s Winsofts @ Rs.1240/- per student(To Totall 50))
50% Faculty Salary for 2 persons
(@Rs5000 x 1 month x 2 persons)
Total Expense

C. Sharing Details
Amount available for sharing
(Rs.177000 Rs.72000)

D.Settlement by University at the Completing of a Batch to Winsofts,

Chidambaram
Less TDS 10%

Rs.

4200.00

Winsoft 40% Share

:
:

Rs.
Rs.

37800.00
5000.00

Rs.

42800.00

:
:

Rs.
Rs.

63000.00
5000.00

Rs.

68000.00

50% share of faculty salary for 2 persons paid on behalf of

the University
Total Amount paid by a Single Cheque

E. Net accural to the University

University 60% Share

50% of total salary amount shall be borne by party of the

SECOND PART

SHARING STRUCTURE AND PAYMENT SCHEDULE.

TYPE B. TALLY ERP 9 Modular (Basic)

A. Student Fees Collection

No of Students
Fees per Students-Tally Fundamental(demand)
Total Amount

10 nos.

:
:

Rs.

9100.00

Rs.

91000.00

Rs.

29500.00

Rs.

10,000.00

Rs.

39500.00

Rs.

51500.00

B. Expense involved(Break-up)
Tally training kit/ Registration fee
(Payable to M/s Winsofts @ Rs.2950/- per student(To Totall 10))
50% Faculty Salary for 1 persons
(@Rs5000 x 2 month x 1 persons)
Total Expense

C. Sharing Details
Amount available for sharing

(Rs.91000 Rs.51500)
The Sharing proportion is :
40% of Rs.51500/- to Winsofts

Rs.

20600.00

60% of Rs.51500/- to the University

Rs.

30900.00

D.Settlement by University at the Completing of a Batch to Winsofts,

Chidambaram
Less TDS 10%

Rs.

2060

Winsoft 40% Share

:
:

Rs.
Rs.

18540.00
10000.00

Rs.

:
:

Rs.
Rs.

50% share of faculty salary for 1 persons paid on behalf

of the University
Total Amount paid by a Single Cheque

28540.00

E. Net accural to the University

University 60% Share

50% of total salary amount shall be borne by party of the

SECOND PART

30900.00
10000.00

Rs.

40900.00

SCHEDULE-4
The teaching staff and the infrastructure details
Faculty 2 +1 persons will be provided by the party of the SECOND PART.
Necessary documents and log books will be provided by party of the SECOND PART.