Is It Legal to Skip Joining After Signing a Service Agreement on Bond Paper?

I have signed a service agreement on (300Rs Bond paper) to join a company and work for 2 years. Now I have received a better job offer from a different company. Is it legal to not join the company on the date of joining? What happens if I signed the agreement but never joined?

If you have received an Offer of Appointment from the company and acknowledged receipt of the same by signing and returning the duplicate copy to the company, you are legally bound to comply with it.

Service Agreement as a Contract

The service agreement is also a contract between you and the company. If you do not join the company, it would be considered illegal. However, you may discuss your situation with the competent authority of the company/HR and try to find a solution or remedy.

Bond and Contractual Obligations

So far as the bond is concerned, the contract created by it comes into operation only upon your joining.

Rescinding an Offer

Regarding the acceptance of the offer which has been communicated, you can still rescind it if you are prepared to face any legal action that might be instituted by the offeror.