Hi,
I am working as an operations manager in an engineering company in Mumbai. Upon joining, I signed a bond of Rs. 50,000 for six months, which constitutes the probation period. Due to personal reasons, I no longer wish to continue my duties with the current company. If I decide to leave, would I be required to pay the bond amount, or are there alternative options for departing from the company?
I kindly request all experts to provide suggestions.
Thank you,
Jivan Tandel
From India, Thane
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I am working as an operations manager in an engineering company in Mumbai. Upon joining, I signed a bond of Rs. 50,000 for six months, which constitutes the probation period. Due to personal reasons, I no longer wish to continue my duties with the current company. If I decide to leave, would I be required to pay the bond amount, or are there alternative options for departing from the company?
I kindly request all experts to provide suggestions.
Thank you,
Jivan Tandel
From India, Thane
Acknowledge(0)Amend(0)
If you have copy of the bond document, please attach to advice you appropriately. These bonds are no longer legal. To understand the whole thing properly, document is required to be studied.
From India, Thane
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226From India, Thane
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Employment contract and rights
An employment contract is made by the employer and the employee, inter alia, with the right of the employer to terminate you vis-a-vis the right of the employee to leave the job, in accordance with the contract. It cannot be one-sided only, as otherwise, it will be invalid and illegal. However, it is difficult to comment on how you have become "Bonded Labour" under what compulsion, without perusing your employment contract which you have accepted.
Thanks,
Regards, Samir Kr. Bhattacharya
From India, Calcutta
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An employment contract is made by the employer and the employee, inter alia, with the right of the employer to terminate you vis-a-vis the right of the employee to leave the job, in accordance with the contract. It cannot be one-sided only, as otherwise, it will be invalid and illegal. However, it is difficult to comment on how you have become "Bonded Labour" under what compulsion, without perusing your employment contract which you have accepted.
Thanks,
Regards, Samir Kr. Bhattacharya
From India, Calcutta
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Bond of Employment.doc
Bond in employment.pdf