Can i private company fire an employee any time without a reason

In private company you are governed by the contract of employment. We need to look at the agreement before being able to guide you properly.

As you are working as a post Assistant Manager, based on your profile and rank, the Industrial Disputes Act 1947 (covering the India Labour Law) is not applicable to you.

Applicability of the Industrial Disputes Act:

The Industrial Disputes Act extends to whole of India and applies to every industrial establishment carrying on any business, trade, manufacture or distribution of goods and services irrespective of the number of workmen employed therein. Every person employed in an establishment for hire or reward including contract labour, apprentices and part-time employees to do any manual, clerical, skilled, unskilled, technical, operational or supervisory work, is covered by the Act. This Act though does not apply to persons mainly in managerial or administrative capacity,persons engaged in a supervisory capacity and drawing > Rs.10,000 per month or executing managerial functions and persons subject to Army Act, Air Force and Navy Act or those in police service or officer or employee of a prison.

The only legal recourse available to you is to file a Civil suit for recovery of monetary dues in addition to the damages for wrongful termination from services. Reinstatement in the same service is not possible as personal contract of service is not enforceable through legal process.

Do let us know in case you would like to initiate the legal process, primarily starting with sending your Employer a Legal Notice for the injustice meted out to you. This would be followed by filing a Suit for Recovery and other damages in case the Notice does not provide you the desired relief.