Ask just one question to yourself.
a) Why was the bond signed ? Did they commit to give you training and which resulted in skill development or any other benefit to you, which will result in material loss to the organisation if you leave.
If yes, then, pay up and move on.
But, if the answer is no, then just move on
If, they have not added any value to your skill sets, then, the bond is not enforceable. The reason is, that, a contract is deemed to be in force when the terms of agreement by both sides are effected and fulfilled to the satisfaction of both the parties. If one side does not honour the commitment, then, the other person is in a position to either walk away from such contract or seek damages.
So, in case they have not delivered to what they have committed, then you can walk away or even seek compensation for having wasted your time in the company assuming that they will honour their commitment of training you or enhance your skill sets, which have not happened. Bond cannot be one sided. If the above has not happened, then you can write to your HR to honour the clauses of the bond, which would have mentioned that they will train or enhance your skillsets.
Just getting a bond signed without giving considerable enhancement of skills or training is deemed to be bonded labour which is banned in the country and the person who signed it from the employers side can be imprisoned.
And also please understand that the duration of the bond has to be commensurate with the value that has been added to you. Just by putting you through a training which costs some USD 1,000 and ask you to sign a bond for two years is not valid. The reason being the material loss, thus caused, is not significant compared to your profile, since you say you earn INR 3.5 Lakhs.
But, in case, they have sent you abroad for a training which is not available in India and you have a task to come back and transfer that learning to all others, then the period of the bond has to be equivalent to the time taken to transfer the skills after returning from the training abroad.
Or for that matter, if you are sent for a MDP program to IIM or Harvard, then the bond for 2 years is valid.
Or for that matter, if you have been given a very specialised training, which very few people have, then the bond is enforceable
In case the above elements or elements similar to above are not fulfilled, then the bond is null and void. Also the court would reprimand the company for having taken advantage of a person's helplessness, especially, if the bond is signed after the employee has joined. And in case of a fresher, it does not matter, if it is signed before joining or after joining, the company is taking advantage of the candidates helplessness and this is considered illegal.
There are numerous cases in the manufacturing sector where the Supreme Court has given judgements favouring the employees. Whereas, in the IT sector every second small company seems to be signing up bonds and the employees do not consider suing the company because they are in a hurry to go abroad or are in a hurry to become a VP or CEO by 35 or 40 and so don't want a blot in their resume,and hence this illegal habit of signing the bonds are quite rampant in small companies.
Please look at the contents of the bond and check whether they have honoured the commitment. But, if the bond clause says that company will invest in your training, and after that, during the tenure, if the company has not given you a letter stating the type of training that is being given with reference to the clause of the bond, then such bond is not enforceable.
Because two years is a huge period in one's life and as per various Supreme Court judgements, an employee cannot waste his career assuming that the so called enhancement of skill sets or training is getting implemented. It has to be specifically spelt out in a separate letter after you join with the date of commencement of training and the date it ends on and who will train you and where will such training happen and the letter has to refer to the clause of the bond that you have signed.
If all the above are not fulfilled, then the bond is only a piece of paper and tell the employer that in absence of the above, the contract has not been fulfilled and hence you are leaving the organisation.
Have a great future ahead.
Cheers