Service Bond Effect

I was working in a Pvt Ltd Company and my net salary is Rs.4600/- per month. After 1 and half year I resigned and joined another company but within two weeks I realized that my new job was not fit for me. I came back to old company for rejoining. Company allowed me to rejoin with a condition that I have to sign a service bond mentioning I couldn't leave before two years and if I do so, then I will be charged for Rs.50,000/-.

At the time of rejoining I did not fill any kind of form. As I was in urgent need of job so I signed the bond and received my appointment letter, that's all. Now after 6 months, I am getting a good opportunity in Ltd Company with good salary. I tried to negotiate for Rs.50,000/- out of court but Old company is not ready. Company is saying it will file a case for breaking service bond or pay him Rs.50,000/- through court.

I have heard Pvt Company don't go to court regarding service bond. They just threat the employee. My local lawyer is saying, if company files a case then you have to fight.

I am afraid and confused regarding court case. Please help.

Hi,
This is for your informration let me tell you that there is no bond for employee whixh exixts in the eye of law. So if you want to change your job , go for that.
Regards

Hi,
Thanks for your comment. Tell me one more thing what about my PF. As I break the bond and given notice period of one week for leaving the job through email, so they will not give me release letter (I don't require also) but I am worried about my PF money because I know they will not sign in PF form, then how can I withdraw or transfer my money to my new PF A/c of new company.

Dear Mr. Shail360
First you sort out your first issue. Get out of the company and get cleared your service bond issue. Then you start worrying about your PF and other benefits.
About your PF you just fill form 10C and Form 19 and handover directly to concerned PF commissionerate. The concerned PF commissionerate staff will take care of obtaining the form 10 and PF Remittance details for the current Financial Year from your previous employer.
All the best