Thread Started by #vishwajit1983

Hi all ,
I very urgently need a sample copy of the indemnity bond letter i need to issue to one of my employee on the behalf of my company i am working as HR head .Please post a copy of it as a reply or send it to me at :vishwajit1983@gmail.com .
Awating an early reply .
Thank you ,
Vishwajit
14th May 2009 From India, New Delhi
Hi Vishwajit

I Got this format some day back in the same site.. want to share with...

This agreement made at City on this the....................day of..........................., 2008, by and between Company Name, a company incorporated in India, with principal place of business at 877, Udyog Vihar, Phase 5, Gurgaon- 122001 (hereinafter referred to as the "Company").


A N D


Mr/Ms................................................ .......................................... aged about ……............. Years, S/o,D/o.............................................resi ding at................................................ ................................... (hereinafter referred to as "you").


WHEREAS offered yourself of your own free will for appointment as an ___________ which has been accepted by the Company, which has therefore issued a Letter of Appointment dated …………...


WHEREAS You acknowledge that are currently you are unskilled and have not undergone training in your professional field and your entire cost of training will be borne by the Company.




You hereby agree:
1. That the remuneration that Company has agreed to pay is in the nature of stipend, which the company is willing to incur over and above the expenses of training you in arts and skills, and it is therefore reasonable for the company to require your services continuously for a period of One (1) year from the date of joining.
2. To obey and to abide by the rules and regulations, service conditions and standing orders of the Company as may be in force from time to time and to comply with orders of his superiors issued from time to time.
3. That in the event you do not continue your employment with the Company for the one year period stipulated, then you shall, on demand, pay the company a sum of Rs.15,000/- (Rupees Fifteen Thousand only) towards liquidated damages, which is the amount spent by the company on your selection and training and which represents a genuine estimate of damages that would reasonably be caused to the business of the Company on account of the said breach. You further agree to pay other expenses relating to loss of man and machine hours which otherwise would have fetched a reasonable amount of profits to the business of the Company.


4. You also hereby agree and acknowledge that further remedies may be applicable against you. Any negative covenants, obligations and/or undertakings given to the Company shall be specifically enforceable by injunction and any damages claimed in addition thereto shall not constitute a defense to any claim of injunction nor prevent the grant of specific relief to the Company. You expressly waive the defense that damages are sufficient alternate relief to an injunction and you confirm, assure and represent that each and all the negative covenants shall be enforceable by one or more mandatory injunctions prohibiting the breach of any covenant or compelling specific performance of any obligation on your part as contracted herein (whether by way of ad interim or interim relief, or otherwise by way of permanent injunction and damages).






________________ ________________


For CompanyEmployee Date: Date:


Regards
Simran
18th May 2009 From India, Hyderabad
Dear All,
We have one of our sr. personnel resigned from the company after very long period of service and accordingly we are paying him all his statutory dues also. Then also management would like to take an indemnity letter from employee that nothing panding on behalf of the company. Can any one help me to draft the indemnity letter from ex- employee.?
25th May 2010 From India, Ahmadabad
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