Can company take legal action against me if i'm not fulfilling rules

You shall work full time for XYZ company only and for no other organization. You should thus refrain from taking any part time work or assignment or provide any consultancy to any other organization. You can however pursue part-time classroom or correspondence courses, subject to them being scheduled strictly outside the office hours and not interfering with your work in any manner. My question is : This is a term I signed with company on a normal printed paper. I want to work extra 2 hours daily after office hours. and on sundays. On my own project or with someone else. Not affecting any office hours and not using any of their property. Is this legal , Can they take any action legally ? What should I do if my needs are not satisfying with the office salary.