Employment bond - whether a bond is applicable or not - employer has given a receipt of 1 Lakh cheque the took from me - CiteHR
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I have 6 years of experience and have just joined the new company with Bond of 2 years, on the day of joining, they took a cheque of 1 lakh and gave me the check receipt that it is for training but after 10 days they gave the job. I want to know whether a bond is applicable or not because he has given the receipt for it.
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 and:
The conditions imposed on the employee must be proved 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.

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