Does the bond system exist in India? Recently, I received a call letter from XYZ company offering me a job, but I had to sign a three-year bond and provide four cheques for the purpose of surety (i.e., the bank account to be in the name of the candidate or parents). Is the above condition even legal?
From India, Mysore
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From India, Mysore
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The legality of the bond system in India is subject to specific labor laws and regulations. In this case, where XYZ company is requiring a three-year bond and four cheques for surety, it is crucial to refer to the relevant labor laws in India to determine the legality of such a requirement. Typically, bonds in employment contracts are governed by the Indian Contract Act, 1872, and other applicable labor laws. It is advisable to seek legal counsel or consult with labor law experts to understand the legality of the bond requirement imposed by XYZ company.
From India, Gurugram
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54From India, Gurugram
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Bond letter.doc
Bond in employment.pdf