I would like to seek legal advice on how to implement an Employment Bond. What are the necessary conditions to be included?
Recently, our company has been experiencing difficulties with employees resigning a month or a few months after employment or training, with unjustifiable reasons. This incurs additional expenses and time for training. I hope you can provide me with some insights. Your input would be greatly appreciated.
From Philippines, Cagayan De Oro City
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Recently, our company has been experiencing difficulties with employees resigning a month or a few months after employment or training, with unjustifiable reasons. This incurs additional expenses and time for training. I hope you can provide me with some insights. Your input would be greatly appreciated.
From Philippines, Cagayan De Oro City
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Hi, In India, bonded labor is an illegal labor practice, as it is in many countries. Therefore, legally, it will not stand in the eyes of the court if presented as a legal case. The best approach would be to calculate the amount that the company needs to spend on administrative and training costs for the employee. Then, include a clause stating that this amount must be refunded by the employee if he/she leaves within a specified period, to be mutually agreed upon by the employee and the employer.
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Employment Bond
An employment bond is a contract between an employer and an employee. Some important terms to consider should be reasonable and fair. In consideration of training imparted by the employers, the employees are required to work with the employer for a specific period of time. If this clause is violated by the employee, they will be liable to pay a stipulated amount of money to the employer.
The terms and conditions of a contract that restrict an employee from joining any other organization would be invalid. The interests of employers must be kept in mind, and they must be compensated in case of a breach of contract. Basically, remember that employment bonds are not inherently void. Their enforceability depends upon the terms listed out by them, which should not be excessive or unreasonable. It's best to take a suitable draft from a lawyer who deals with such matters and use it judiciously.
From India, Pune
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An employment bond is a contract between an employer and an employee. Some important terms to consider should be reasonable and fair. In consideration of training imparted by the employers, the employees are required to work with the employer for a specific period of time. If this clause is violated by the employee, they will be liable to pay a stipulated amount of money to the employer.
The terms and conditions of a contract that restrict an employee from joining any other organization would be invalid. The interests of employers must be kept in mind, and they must be compensated in case of a breach of contract. Basically, remember that employment bonds are not inherently void. Their enforceability depends upon the terms listed out by them, which should not be excessive or unreasonable. It's best to take a suitable draft from a lawyer who deals with such matters and use it judiciously.
From India, Pune
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