Nashbramhall
Learning & Teaching Fellow (retired)
Raj Kumar Hansdah
Shrm, Od, Hrd, Pms
+2 Others

Thread Started by #Software Developer US

My Employer has taken an undated cheque of Rs. Five Lakh to serve the company for three years. Is it legal? Can I make a stop payment to cheque.

I have signed a Bond with the employer.

Below is the signed bond:

-----------------------------

First Bond:

Bond 478820

1. Know all men by these present that I, My Name s/o Father's Name, resident of my address (Employee) have joined my service as Project Lead

with XYZ (India) Pvt. Ltd., address in India (hereinafter referred to as the Employer) in pursuance to the Appointment Letter dated 4th April

2012.

2. I have to serve the Company for a period of minimum three years with effect from the date of Joining. I can give a notice in writing to the

Employer at least forty five days prior to leaving the job only after completing minimum three years of service at Company or Client premises.

3. That I shall be bound to Work for to my employer ar/at onsite (client side) projects, which has been assigned to me during the course of my

employment.

4. In the Course of my employment with this company I cannot work/serve other employers or client directly as employee/Consultant.

5. In case, I do not serve the above conditions with effect from date of joining, I shall be liable to pay a sum of Rs. 5,00,000/- (Rs. Five lac

only) to my employer.

6. This bond is applicable in case your H1B petition gets approved.

7. In case on Non-approval of H1b petition, terms and conditions as per your appointment letter will be applicable.

Sign:

Date: 9/4/2013

-----------------------------

Second Bond:

Bond

1. This is reference to the bond number 478820 attached, that was signed with XYZ (India) Pvt. Ltd. on 4 April, 2013.

2. I, MyName s/o Father Name, resident of myaddress, am currently working as Project Lead with XYZ (India) Pvt. Ltd.

3. XYZ (India) Pvt. Ltd. is a 100% subsidiary company of XYZ LLC USA(hereinafter referred to as the Employer)

4. I am being transferred to XYZ LLC, USA via visa number xxx and petition number xxxx.

5. I have to serve XYZ LLC, USA for a period of minimum three years with effect from 14-Oct-2013.

6. That I shall be bound to work for XYZ LLC, USA /its subsidiaries /clients as per the work requirements.

7. I shall, during my service with XYZ LLC, USA will not engage directly or indirectly in any business or service other than the company's

business and service.

8. In lieu of the bond, I am submitting a cheque of Rs. 5 Lakh, number 999999 drawn on Bank, ICICI Bank in favor of XYZ (India) Pvt. Ltd.

9. In case, I do not serve the above terms and conditions with effect from 14-Oct-2013 for whatsoever reason, the Company reserves the right to

encash the cheque of Rs. 5,00,000/- (Rs. Five lac only).

Signature:

Date: 9/10/2013
11th January 2014 From United States, Rochester
One sided bonds are illegal. Having said that, the company can't take a blank cheque; it's the applicant that gives.
Please click on the links at the sidebar on the right. This topic has been adequately covered in those threads.
11th January 2014 From United Kingdom
please this one is an unilateral contract (one sided) and given under 'nfluence' to fulfil the need of employement where the employer has not contributed any thing towards achieving the skills, knowledge and experience hence void ab initio. Do not worry. For safe guard give instruction to your bank not to honour the cheque if presented.
rgds/ rv

11th January 2014 From India, Bangalore
Unless more and more employees refuse to be cowed-down by such unjustified and illegal demands of the employers: such practices will continue.
Its surprising to see well-qualified persons in IT industry bowing to such ungainly tactics. such practices should be stopped forthwith and it needs co-operation from HR professionals and prospective employees.
Warm regards.
11th January 2014 From India, Delhi
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