You have mentioned that your friend was issued with an appointment letter and later he was made to sign a contract for Five years with certain stringent conditions.
The reply to your queries are given in seriatim:-
1) Is this type of agreement is valid in law:- This type of agreement or contract are getting signed to create psychological fear in the mind of employees but in practice those are difficult to implement being, one sided in nature.
2) If he leaves the bank what will be the consequences :-They will issue him a letter quoting the violation of terms & conditions of the contract. Besides they will not issue him the relieving and experience certificate.
3) They are not ready to give relieving or experience certificate:-Surely they will not, as mentioned in my earliar reply.
4) He cannot show this experience in his CV as they are not ready to give relieving or experience certificate:-You are correct or he has to explained the circumstances to the new Employer talking him into confidence.
Member Since August, 2011
25th November 2016 From India, Mumbai