Check with them if this clause can be ammended or see what is the penality if u take up a job within 12 months? and also ask them how does it make a difference to the present company whether i join within 12 months or after 12 months. Not to worry, solution can be found easily as law are more employee friendly. Moreover, its ur will power to tackle any situation matters most. Dont imagine that company will spend on court / lawyer 1000's of rupees if dont follow the rules specified in the contract apart from issues arising out of malpractise / fraud etc.