Stuck in an Unregistered Startup: Can I Break My Bond Without Legal Trouble?

Hi all, my name is Abhishek. I am a graduate of the 2013 B.Tech IT batch. I have been offered a job in a startup company in Hyderabad. They have asked for all my original certificates:

1. 10th
2. Intermediate
3. B.Tech
4. Passport

Bond Agreement Details

They have made me sign a bond for 1 year, which excludes the 3-month training period. The bond mentions that I need to work with them until December 2014. Breaking the bond requires me to pay an amount of 70,000 INR.

Issues with the Company

Now, my problem is the company is a startup and unregistered. I am not happy with the treatment I receive there. I am not being paid for overtime and am being fined for being late, even if it is just 10 minutes. I am the only tech person in that startup, and they assign all the tech work to me. I am not being paid accordingly; I am only receiving 20,000 INR.

Training and Bond Concerns

I have been promised in the bond that I will receive training from the company, but no training has been given to me. I have read in this forum that the bond amount should be equal to the amount spent on the employees for their training, but nothing has been spent on me. So, should I have to pay it?

Desire to Leave the Company

I really want to leave this company. Currently, I have signed the bond and have been working for 3 months. December is the last month of my training period before my 1-year bond starts. If I leave the company during this so-called training period, do I still have to honor the bond?

Validity of the Bond

The company is unregistered, but the bond paper is on a stamp paper. My question is, is that bond even valid? Can a company take the passport from an individual?

Potential Legal Consequences

If I leave this company without informing anyone, is there a chance of legal action against me since they have my passport and intermediate mark list?

Please answer my questions. I have just started out in my career, and it seems to have hit a roadblock.

Getting Out of an Unregistered Company

Hi all, I have a few questions regarding my current employment situation.

1. 10th
2. Intermediate
3. B.Tech
4. Passport

They have made me sign a bond for 1 year, which excludes a 3-month training period. The bond mentions that I need to work with them until December 2014. Breaking the bond requires me to pay an amount of 70,000 INR.

Now, my problem is the company is a startup and unregistered. I am not happy with the treatment I receive there. I am not being paid for overtime and am being fined for arriving late, even if it is just 10 minutes. I am the only tech person in that startup, and they are assigning all the tech work to me. I am not being paid accordingly; I am only receiving 20,000 INR. I have been promised in the bond that I will receive training from the company, but no training has been given to me.

I have read in this forum that the bond amount should be equal to the amount spent on the employees for their training, but nothing has been spent on me. So, should I have to pay it?

I really want to leave this company. As of now, I have signed the bond and have been working for 3 months; December is the last month of my training period before my 1-year bond starts. So, if I leave the company during the so-called training period, do I still have to honor the bond?

The company is unregistered, but the bond paper is a stamp paper. My question is, is that bond even valid?

Can a company take the passport from an individual?

If I leave this company without informing anyone, is there a possibility of legal action against me since they have my passport and intermediate mark list?

Please answer my questions. I have just started my career, and it seems to have hit a roadblock.

Regards