Venkata Vamsi Krishna Patnaik
S S Mishra
Human Resource Executive
It is always advisable to get the employee bond on stamp papers and notarize the same.
2nd December 2017 From India, Hyderabad
Sec 8. Functions of notaries.- (1) A notary may do all or any of the following acts by virtue of his office, namely:-
(a) verify, authenticate, certify or attest the execution of any instrument
among other duties
Therefore notorisation does not add value.
If needed a bond on Rs500 stamp can be executed between company and employee.Value of stamp can vary from state to state and a local lawyer can tell you exact amount to be paid and value of stamp paper.
2nd December 2017 From India, Pune
Some of the company obtaining bond from trainee like GET`s & DET`s OR Management Trainees that, they have to serve minimum 2-3 years with company else specified amount will be recovered from them. Few years back, one Advocate advice me that, such bond legally do not stand in court. This is just psychological pressure nothing else.
If company investing money on specific training in India OR abroad and mutually agreed by Employees & Employer in advance; here such bond are legally valid. Employees had to serve company for specific period else he had to compensate amount invested on his training.
I will be grateful to my senior, Pls. guide, if they keep some different opinion.
4th December 2017 From India, Mumbai
6th December 2017 From India, Mumbai