Notice Periods and Bonds in Indian Software Companies: What Are the Rules and Where to Find Them?

Would love to know what the general principles adopted are in fixing the "Notice Period" duration and Fixing of "Bonds" in software companies (Indian Companies) and also MNCs operating in India? Are there any statutory guidelines? If so, where can I find them?

Hi Pradeep,

As per my knowledge, the notice period and bond relation will be discussed with the employee by employers on the date of joining in their concern. In the appointment letter, some companies clearly state the notice period and certain conditions. Many companies require a bond agreement to be signed by the employee to ensure they do not leave the organization during the tenure period.

Therefore, the notice period and bond agreement are not statutory; they are created and implemented solely by the management of the company.

Regards,
Saravana
Executive - HR