Legal Guidelines On Employment Bond - process to get bond signed and if the employees breach the bond?

Hello friends,

I am working as an HR Manager in an organization where the attrition rate is very high. As suggested by management, to control the attrition, we need to implement a 2-year employment bond policy for new employees. Kindly help me out with the legal guidelines and the process to get the bond signed by newly joined employees for 2 years. Also, what is the process if employees breach the bond? Please assist me in setting the procedure and preparing the necessary documents.

Thank you.

Hi Richa,

Are you seeking this information about Indian conditions or in the US? I could gather some materials on the concept from various sources as attached, which I hope might be of some help in your pursuit.