yes its on stamp paper.. and i didnt read it as they asked to sign and they were hurry.
after searching on internet i got the fallowing lines...is this true?
If the bond is service agreement/ contract bond (without any training investment on employoee), then that bond is invalid bond and do not stand in law of court.
Employee need not to worry of breaking it.
If the bond is a training bond then it may stand in law of court for validity, for which we need to see content of bond clauses.
Anyhow in India now bonded labour is baned.. which means no employer can keep any employee on any kind of bond/agreement which is not valid in law of court.
Now a days employer use this weapon to create psychological effect on employee, apart from this there is no value of such bonds.
This person should see a lawyer and should send his compay a formal explanation notice if he fits all aspects on legality.