To Break Training Bond

Hi friends,

I need a help from you……….. To breaking bond

Hi
Check your Bond paper, regarding payment of penalty in case of breaching the bond period....if it is written proreta basis...then u have to pay the amount for three months(since you have 3 more months of bond period is remaining)....
Padma Kumar

also take a legal advise from a good lawyer. Show him the bond and see if he could find any holes in that.

Dear Friend,

Bond is nothing but a Indemnity Contract under Contract Act and breach of it is hit by Section 73 to 75 of the Contract Act.

The Company can file civil case against you for breach of such contract and ask you to indemnify the losses incurred by it cause of your breach, such calculation of losses cannot be remote losses but yes it may include Air fare and visa charge, Allowance paid in abroad for food and living, Medical insurance cost in abroad, Boarding and lodging cost.

The company can also take action under criminal laws but the same are frivolous and may not be subsist.

What defence you can take is the Bond is one-sided and you may have signed in undue influence but the same are very tough to proof and only good lawyer can handle such defence. Your lawyer may take defence of signing the bond on Rs50/- Stamp paper, i think it should be Rs100/-(may be the State Acts varies)

Further, it is to be noted that your bond may have Arbitration Clause and you can initiate concilliation to settle the issue ammicably with your company.

Hope this helps... Regards

Dear Sir,

Thank you very much for your information. I will try my level best to solve with company

In this forum I have found information regarding allowance paid in abroad. The allowance paid in abroad will come under wages it cannot be claimed as damage if employee breaches the contract, is it true?

Dear friend,
Your confusion is quite valid, the amount mentioned in Bonds are usually remote damages and hence, the contention can be raised about the real damages incurred by the company, u may harp upon this point and negotiate.
This may be again a valid point that allowance comes under the defn. of Wages and can not be claimed as Damages.
Ask company to proove their Damages and negotiate.... Good luck.
Regards

Hi there,
You need to go through your agreement with the company, find a way to pay back the money in installments & don’t leave the company without a job in hand.
Or if you find another job and ensure that you make monthly installments to your previous company to finish your previous dues, while your at it make sure you check the legality of the matter

Dear sir,
Thank you for your feed back. My bonds have a break up of my expenses
I respect a company lot and I am ready to pay back sum amount of bond value up to one year salary by instalment but not full bond amount.