Abstract: Psychological contract in Organization is a mental bond between employees and their organization. It has powerful effects on employee抯 behavior and attitude. 揘ew generation?researchers of psychological contract focus more on quantitative research methodology. Major research areas are: content and construct of psychological contract, dynamics and changes in psychological contract. Research results have profound implications on building good employment relationship, improving human resource strategy, formulating compensation policy, and developing recruiting and training methods.

Key words: psychological contract, transactional psychological contract, relational psychological contract, psychological contract violation.