If any dispute arises how will it be resolved? And in which juridical area? By dispute I mean any salary, notice periods, work hours etc.
NOT LEGAL ADVICE, I'M NOT A LAYWER. I DON'T EVEN KNOW THE LAW
When hired, your hiring paperwork typically includes an agreement that you receive your pay and in return you perform your duties for the company, one of which is to "abide by the company's policies, procedures, etc." Many of these policies are in the "employee handbook" should your company have one.
Good employee handbooks indicate which legal jurisdiction your company is operating out of; and, you probably have already agreed to have legal cases handled within that jurisdiction. This doesn't invalidate all legal rights in your country; but, it does mean that future legal issues under your country's laws will be complicated by your agreeing to handle the legal issues under a different set of laws.
For example, if I agree in the USA to work on Saturdays, but in Israel a law prevents me from being forced to work Saturdays, the Israel law can't be used to get out of working Saturdays; because, I agreed to working on Saturdays in a jurisdiction where working on Saturdays is legal.
In general, it is very difficult to un-agree to something because nobody forced (in the true sense of the word, like with threats or violence) you into the agreement. Should you want your agreement to not apply, you'll have to find a lawyer to review if it is even possible, and assuming it is possible, you might want to ask the lawyer about the real odds of getting the case heard (it can be hard to determine which court should hear it), winning the case (which is harder considering you were willing to live by a different set of laws in the agreement), and collecting money from the case (which is important, as it typically involves one country telling a company in another country what to do).
Finally, one should consider the costs to win against the money that might be collected, as in many situations the company will only need to pay the price of the damage and not the price of the money to collect the damage. This "only pay the damages rule" is believed to keep court costs low, as a person who is likely to win a case can't increase the punishment by overspending to win the case.
If you are in India, you would be subject to Indian laws and courts. The company employing you would also be subject to these laws but if the laws are violated, you may not be able to collect a judgment in your favor.
For example, if the company fires you and an Indian court rules that the firing was invalid, the court may order the company to hire you back but the company may choose to ignore the ruling (potentially while not doing any more business in India).
Depending on how established the company is, it may be aware of the local laws where it hires employees/contractors, or not. A small company may choose to ignore local laws and simply hire elsewhere if they run into issues.
Many of the worker protections may not apply to independent contractors. Companies are generally aware of this and may give you paperwork to sign saying you agree to be an independent contractor.