Dear All;
Bond, what is being discussed, appears to me as a contract of terms and conditions of employment including remuneration. Bond is entirely different. Contract is like settlement in case of workers. Normally appointment letter is issued in short that his employment commences from a particular date. The other terms and conditions of employment are in a separate document which is a contract which you are, perhaps, calling a bond. Like in case of workers, the 3 year wage agreement is re discussed and renewed, this contract is also renewed. Appointment letter remains valid until the employee separates from the company, in whatever way.
When an employee is offered some training in foreign country, or some such input is given, employer asks for a bond that after the training, the employee will serve for at least 2-3-5 years. This period is for once only. This is not renewed. This is bond, violation of which is penalized.
Vibhakar Ramtirthkar
9371001906
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