Dear Sir: I am employed in a multinational company and upon joining they signed us an indemnity bond worth rupees 5.5million. The terms on the bond were. The company will try to arrange training for two years (may it be more or less) and after certification (which means completely trained) i have to work for the three years more. It\'s been passed two and half years the training isn\'t still completed is not likely to be completed in the next few years. During this time we are mostly sitting idle in the office that means doing almost nothing. This is really dire situation for me as I was not aware of this before signing the agreement. While company is trying to complete our training they are mostly failing to do so as well and my pay is not updated (currently this is very low comparing my other colleagues in the same job) as they say I am non productive at the moment. The dilemma is I can\'t be productive before completing my training and while on the other side they are failing to arr
From Pakistan, Karachi
1From Pakistan, Karachi
PROFESSIONALS AND BUSINESSES PARTICIPATING IN DISCUSSION
Dear Mudassir,
Please refer to the following link.
Hope it helps!
Free legal advice India
Regards,
Kanika Kapoor
From India, Delhi
Please refer to the following link.
Hope it helps!
Free legal advice India
Regards,
Kanika Kapoor
From India, Delhi
Hi Kanika:
Do you know any situation when an employee broke down the indemnity bond and is still safe. I don't want to break this indemnity bond personally but on the other side I have to ruin my career. Please help with the legal advise, it will be really appreciable. The link isn't working
Thanks,
Muddasir Masood
From Pakistan, Karachi
Do you know any situation when an employee broke down the indemnity bond and is still safe. I don't want to break this indemnity bond personally but on the other side I have to ruin my career. Please help with the legal advise, it will be really appreciable. The link isn't working
Thanks,
Muddasir Masood
From Pakistan, Karachi
Dear Muddasir,
Which nation does this firm belongs to and where was the Bond signed? The laws of the land will remain valid. This firm seems to be either an NBFC or software. Sectoral laws would remain a point of reference.
I am mailing this to a corporate legal expert in India, lets get connected to someone from the nation, where you signed your bond.
From India, Mumbai
Which nation does this firm belongs to and where was the Bond signed? The laws of the land will remain valid. This firm seems to be either an NBFC or software. Sectoral laws would remain a point of reference.
I am mailing this to a corporate legal expert in India, lets get connected to someone from the nation, where you signed your bond.
From India, Mumbai
It would be necessary for you to upload the document / bond to analyse its legality. You can block certain personal info / company name etc, in case you are not comfortable disclosing it on the forum.
From India, Chennai
From India, Chennai
Dear Muddasir,
I second Z.N.Hansi, please share the details to the case. The leader I wrote to , asked for case details. Please remove the name of the company and names of the people , to maintain the privacy .
Looking forward to hear from you .
From India, Mumbai
I second Z.N.Hansi, please share the details to the case. The leader I wrote to , asked for case details. Please remove the name of the company and names of the people , to maintain the privacy .
Looking forward to hear from you .
From India, Mumbai
Without seeing your bond, it is difficult to say
In addition, most of the members here are from india, and the laws here would differ from Pakistan.
However, our laws are derived from British and share a common heritage, so chances are that contract and torts will be same as ours.
They have promised you training and taken an indemnity bond to defray the cost of the same.
However, the training was not provided. So since the condition which is the central consideration for the contract is not fulfilled, the contract and bond is void ab initio. Meaning you are not bound by it. You can resign and leave. I doubt if any court of law will force the employee to follow the terms of a bond when the employer has not done his part.
From India, Mumbai
In addition, most of the members here are from india, and the laws here would differ from Pakistan.
However, our laws are derived from British and share a common heritage, so chances are that contract and torts will be same as ours.
They have promised you training and taken an indemnity bond to defray the cost of the same.
However, the training was not provided. So since the condition which is the central consideration for the contract is not fulfilled, the contract and bond is void ab initio. Meaning you are not bound by it. You can resign and leave. I doubt if any court of law will force the employee to follow the terms of a bond when the employer has not done his part.
From India, Mumbai
I agree with the general observations of Saswat, as given above.
This is a one-sided bond, unfair and oppressive'moreover the company has not even fulfilled its side of the bargain. The prospective employees are forced to sign such bonds under financial duress and not out of their free will.
The penalties are not commensurate with the benefits offered.
In my opinion; such bonds will not stand the scrutiny of the courts of any developed, democratic country.
Warm regards.
From India, Delhi
This is a one-sided bond, unfair and oppressive'moreover the company has not even fulfilled its side of the bargain. The prospective employees are forced to sign such bonds under financial duress and not out of their free will.
The penalties are not commensurate with the benefits offered.
In my opinion; such bonds will not stand the scrutiny of the courts of any developed, democratic country.
Warm regards.
From India, Delhi
Dear All:
Thanks for your valuable comments.
@ Z. N. Hans and (Cite Contribution), I am attaching this agreement here for your reference and support, will be really appreciable, thanks for your comments too.
@ Raj Kumar and Saswat: They sent me for the training, but the bond is tied to certification, and this certification requires extensive training to be done by me, but my employer has failed to provide me in due course of time (two years as mentioned in the bond, but they included the term "be it more or less" to keep them safe), it's not in the mid-way. They told us that we will be extensively and continuously deployed on to many projects to learn before getting certification, but they hadn't done so for, which means we received one training after sitting idle for six months and then afterward second onsite training which is project based was done after almost one year and we don't know how long we may be waiting for the next project-six months have been passed up to now.
I have also attached the agreement for your reference and will be looking your kind advise on it. From my perception, this bond is greatly biased on the employer side. We hadn't noticed this at the time of signing and moreover we aren't in the position to negotiate, either sign or leave.
Regards,
Muddasir Masood.
From Pakistan, Karachi
Thanks for your valuable comments.
@ Z. N. Hans and (Cite Contribution), I am attaching this agreement here for your reference and support, will be really appreciable, thanks for your comments too.
@ Raj Kumar and Saswat: They sent me for the training, but the bond is tied to certification, and this certification requires extensive training to be done by me, but my employer has failed to provide me in due course of time (two years as mentioned in the bond, but they included the term "be it more or less" to keep them safe), it's not in the mid-way. They told us that we will be extensively and continuously deployed on to many projects to learn before getting certification, but they hadn't done so for, which means we received one training after sitting idle for six months and then afterward second onsite training which is project based was done after almost one year and we don't know how long we may be waiting for the next project-six months have been passed up to now.
I have also attached the agreement for your reference and will be looking your kind advise on it. From my perception, this bond is greatly biased on the employer side. We hadn't noticed this at the time of signing and moreover we aren't in the position to negotiate, either sign or leave.
Regards,
Muddasir Masood.
From Pakistan, Karachi
Indemnity Bond - Format.doc