- Are any agreement / bond legal in the eyes of law.
Yes, if fulfils certain conditions as per contract Act.
2.If so, under which law?
Indian Contract Act.1972
3.If a contract states that an employee is on contractual basis only for 2years and that the contract is renewable after 2years, but employee will be purely a temporary employee, are such condition legal?
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3. Again under this agreement if it is written that employee can only leave after giving 2 months notice. Is such condition legal, as on one side the contract states that the employee is on contractual basis only and temporary employment?
Yes.
4. If against such agreement, company asks for undated cheque amounting 2 months salary and states in the agreement that such cheque will be deposited if any of the condition in the stated agreement is not fullfiled. would like to have a legal opinion on this condition?
Dont do this, If employee repudiate contract go to civil courrt to enforce specific performance or damages, mention clause of liquidated damages in contract or bond.
5. If a company is permitted towards such kind of agreement, then company can easily walk out by not paying gratuity to the deserving employees.
You cant, gratuity can be forfeited only on conditions mentioed in gratuity act. IF you are taking person 2 yrs contract, there will be no issue of gratuity.
6. What are the legal implications bonds / agreement?
Great Significance, implication you will understand when you will be taken to court of law.
7.how far employees or labour are safeguarded under such bond or agreement?
Not clear.
- Certain companies even ask for pay oder deposit which will be released back with 5% interest after 1 year. no deposit slips are given towards it.
OYu have check for whom this arrangement is made for senior position or laboures, or class IV staff.
In senior levels it can be done.
Regards
Anirban
9867140034