Hi Madhu
I agree with your POV, that employers also misuse binding laws to exploit employees. But with changing times, and demand supply dynamics of labor market, there has to be a review in law. I don’t support the idea of enslaving bond, but their has to be obligation on employer and employee both to honor terms and conditions on signing employment contract.
Increasingly employees are becoming spoilt and low tolerance levels towards employer’s efforts. Absconding has become norm and acceptable practice. Companies are finding many absconders in the market, that they have to lower their requirement for relieving letter and accept the employee in spite of bad previous employment records. Further fueling acceptability of this unethical act.