Hi,
I am an HR student doing my MBA, recently i came across in my business law paper that the bond paper which is being asked to sign by most of the companies is actually a void contract. Is it really true?? i would invite your views.
Regards
Meenakshi Gulati
From India, Bangalore
I am an HR student doing my MBA, recently i came across in my business law paper that the bond paper which is being asked to sign by most of the companies is actually a void contract. Is it really true?? i would invite your views.
Regards
Meenakshi Gulati
From India, Bangalore
Dear friend
It is not a bond paper. It is a contract
There is general perception that these contracts are void. It may not be so. It depends on the clauses and how they are implemented.
For example, an organisation employs a trainee and provide training for one year with special class room lectures, projects and has a specified curiculum to complete, and they also maintain records,then any contract signed demanding the employee to be in employemnt for three years or five years will be legal and it wil not be void.
Siva[/list]
From India, Chennai
367It is not a bond paper. It is a contract
There is general perception that these contracts are void. It may not be so. It depends on the clauses and how they are implemented.
For example, an organisation employs a trainee and provide training for one year with special class room lectures, projects and has a specified curiculum to complete, and they also maintain records,then any contract signed demanding the employee to be in employemnt for three years or five years will be legal and it wil not be void.
Siva[/list]
From India, Chennai
Hi,
I have a question.
In case a trainee in a Bpo;who has taken training for over 2 months and even before he hit the floor for his performance he vanished after taking the salary.
The Pvt Ltd firm had made him sign a bond since they had provided them with door to door drop & pick up, the training and the meals.
Now he is afraid that they can demand the said sum of 75,000 in case he left within the 6 months.
How does he get out of this? What can the Pvt Ltd firm do?
pls advise
From India, Mumbai
I have a question.
In case a trainee in a Bpo;who has taken training for over 2 months and even before he hit the floor for his performance he vanished after taking the salary.
The Pvt Ltd firm had made him sign a bond since they had provided them with door to door drop & pick up, the training and the meals.
Now he is afraid that they can demand the said sum of 75,000 in case he left within the 6 months.
How does he get out of this? What can the Pvt Ltd firm do?
pls advise
From India, Mumbai
Hi mugud,
the only option ur friend is that he will have to get himself fired, the type of bond/contract actually decides its validity i.e the contents and the clauses.
Although from an etical point of view I think the bloke is a looser, give the company atleast a month or two months notice so that they can afford to find a replacement and not leave the company the day your friend gets the money.
Thanks & Regards,
AJ
From India, Thana
the only option ur friend is that he will have to get himself fired, the type of bond/contract actually decides its validity i.e the contents and the clauses.
Although from an etical point of view I think the bloke is a looser, give the company atleast a month or two months notice so that they can afford to find a replacement and not leave the company the day your friend gets the money.
Thanks & Regards,
AJ
From India, Thana
Hi
Providing meals and door to door pick up and drop are not the considerations for any such contract.
The consideration is whether the Company or the establishment has spent time and money to train the person. If the Company has done so,then it is the consideration.Let us not be carried away by high stipend,working conditions,food,pick up and drop,leisure time activities.first time employment etc.
And instead of using the word bond, you use the terminology "Service Contract" That may sound better and will carry some weight in the minds of those who sign this.
Siva
From India, Chennai
Providing meals and door to door pick up and drop are not the considerations for any such contract.
The consideration is whether the Company or the establishment has spent time and money to train the person. If the Company has done so,then it is the consideration.Let us not be carried away by high stipend,working conditions,food,pick up and drop,leisure time activities.first time employment etc.
And instead of using the word bond, you use the terminology "Service Contract" That may sound better and will carry some weight in the minds of those who sign this.
Siva
From India, Chennai
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