Service Bond [Thread 317279]

I require some guidance related to employee bond
1. Whom does the bond applicable for?
2. What would be the bond content?
3. Is their any minimun and maximum duration specified for a bond?
4. Will the bond hold good(legal) if it is on the company letter head or it should be only on the bond sheet?
4.a.If on the bond sheet, what would be the cost of bond sheet?
4.b. whether an seperate appointment letter to be given to an employee if he/she sign a bond?
5. What are the legal steps that should be taken into consideration during the course of action?
6. Does the bond require any compant seal
Waiting for your reply ASAP

1. Bond is appllicable to the person whoever signs it.
2. Depends on the mutual consent of both the parties.
3. As far as my knowledge goes no such limitation as to minimum and maximum periods
4. It is to be executed on Rs. 100/ non-judicial stamp papers
5. Appointment letter is to be given to the employee whether a company takes the bond from him or not.
6. In case the employee violates the conditions mentioned in the bond he can be sued by the employer.
7. Not necessary.