Nathrao
Insolvency N Gst Professional
Riteshmaity
Labour Law Advocate
+3 Others

Hi, Am working as HR Manager, i wanted my resource to sign the service bond. So could any one guide me on how many rupees the bond agreement need to be signed?
From India, Bengaluru
Bonded labour is illegal in India hence this kind of bond/ agreement to hold an employee does not have any legal meaning. The Supreme Court has clearly mentioned that one cannot stop an employee to join another company for his betterment. Through bond you can only recover the amount that is spent on an employee for special training, if provided and nothing more.
So if you have provided any special training to the employee, then you can put the amount equivalent to such training cost.
Check my blog at www.labourlawhub.com

From India, Kolkata
The training costs should be clearly quantifiable.
Beyond that nothing can be easily recovered from an exiting employee.
As a side light consider "resource" as an human employee with his/her own needs/mind.
Employees must be treated as human beings not 'doings' | Business in the Community

From India, Pune
Legally you can’t bind employee. If you do, and employee challenges it by approaching legal authority you could be in trouble.
From India, Mumbai
The service bond is a gentleman agreement. It is not valid in Law.
You can take bond according to the cadre amount reasonably decided by the Management and as agreed by the employee while taking up employment. No hard and fast rule in this regard.

From India, Hyderabad
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