Urgently Need Help Regarding The Bond

Hi All,
I am a BE (IT) 2010 passout.
I was working as an FO Engineer with Ericsson. But i want to change in Software.
I got a JOB as a Trainee- Software Developer, but for that i need to sign a bond for 2 years with the company for the amount of 75000 (for which i have to submit a undated cheque to the company).Also this bond is on simple paper with stamp of some court.
Also in additional to this company is retaining 15 % of my salary every month and the amount would be refundable after 2 years.
In case i will break Bond, i would have to pay 75000 to company and also the retained amount would not be refunded to me.
Please help should i sign this bond or not.
Thanks

Hello archanamattoo,
Atul Agarawal has asked the right question.
If the Company is reasonably good, it may be worth it. If it's some sort of a fly-by-night company, it may not be worth it. If you don't like to name the company, make your own checks on their credibility with your known sources/references & then decide--and PL DON'T DEPEND ON JUST ONE/TWO references. Per se, the focus you need to have is this: will your career take off if you accept this opportunity. If yes, go ahead.
After all, the Company is trying to protect it's interests, given the present scenario of people joining & then quitting at their own pleasure--leaving the company with hefty salary & training bills.
Rgds,
TS

Hello archanamattoo,
That's a reasonably good company.
Just checkout if there are others in the same boat as you [to give the bond]. If yes, you can go ahead--as far as my opinion goes. Also, the bond of 2 yrs isn't very high.
All the Best.
Rgds,
TS

Hi,
2 yrs bond is not very high, but before signing it try to get in touch with the people who are working in same profile for the same company, ask them about the work culture over there, ask them how satisfy are they with work as well as with the immediate manager n all....Try to know as much as you can about there work culture.
Thanks

Thanks a lot for helping.
Actually i have read the reviews of company on net and reviews are very bad (like they dont pay their employee on time etc).
SO just wondering, should i ignore these reviews.