I have 6 years of experience and have just joined a new company with a bond of 2 years. On the day of joining, they took a cheque of 1 lakh and gave me the check receipt stating it is for training. However, after 10 days, they offered me the job. I want to know if the bond is applicable or not since they have provided a receipt for it.
From India
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From India
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Dear Friend,
Following are the requirements of a valid employment bond agreement:
- The agreement must be signed by the parties with free consent.
- The conditions stipulated must be reasonable.
- The conditions imposed on the employee must be proven to be necessary to safeguard the interest of the employer.
- The employment bond is to be executed on a stamp paper of appropriate value in order to be valid and enforceable.
From India, Mumbai
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429Following are the requirements of a valid employment bond agreement:
- The agreement must be signed by the parties with free consent.
- The conditions stipulated must be reasonable.
- The conditions imposed on the employee must be proven to be necessary to safeguard the interest of the employer.
- The employment bond is to be executed on a stamp paper of appropriate value in order to be valid and enforceable.
From India, Mumbai
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Bond of Employment.doc
Bond in employment.pdf