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Insolvency N Gst Professional
Account Manager

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So many candidates back out from joining after interview or after taking an offer letter. I want to prepare a contract in which I will mention that if a candidate backs out, they will have to pay a fine. Can someone share such contract, if there is any?
Thank you in advance!

You can not impose a fine to candidate for not joining a company.
But I fully agree with your view that many candidates do not have ethics, or
commitment towards an Offer. In many cases, what I observed (I have also
come across with many situations like this, which resulted in restarting
recruitment process thereby spending more time, efforts and oother resources).
is that after receiving offer letter from a new company, they will encash the same
with their current employer by getting a good increment, and benefits.

If a candidate gets a better offer, he may choose to move in that direction.
It is a problem for the company and probably keep one or two standby candidates, in case some one drops out.
There is no legal remedy to such situations.

Now a days candidates are so much eager to getting more and more so lets make it simple, tell your candidates to submit some money which will return them on 2nd salary with or without interest or you can take signed cheque from your cadidates its upto you, describe this on offer letter also, if they don't join or work more than months prescribed abovesaid money is forfeited and nothing shall be returned. i suggest get the cheque of one month salary. This may bound him to join surely or he has to give one month salary which will be profitable to company also.
Very true @Rkn61
I am thinking to do something like Mr. @ANNONYMOUS said (I don't know why he chose himself to be hidden or it's his id).
Anyways, I was thinking to offer the candidate a joining fee with 1st month salary and if he does not joins then he will have to pay double the joining fee and for this I wanted to have an agreement signed between both the parties before the employee appears for interview. Can I do that? Does such type of agreement format exists? Can someone please share with me? I know this has no meaning but it will just act as a deterrent. ?It will make the candidate think twice before backing out.

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