Dear friends,I am attaching various articles on legality of service bonds for your information.Regards,

Hi,Iam a new member to this group and i really enjoy being part of this group.Can anyone tell me about the legality of service/employment bond that some companies insist on executing at the time of joining. I would like to know the legality of such bonds when1\....

Hi,Is the bond's taken by private firms legal? if so why they are legal? as the bond says that the employee have to work for x years but never says that they will keep the employee for x years.In such a case, if one need to leave the company is it necessary to g...

I am working with a co-op bank. With reference to one of the conditions of my appointment order I have to execute a Service Bond of 5 years. Failing to which I have to pay to bank 6 Months salary and payment for all other fringe benefits. The fact is I have not ...

Hi to every body…now i am working as a software trainee in a small it company...while joining they ask me to sign a service bond of three years...before signing bond they told me they will gave me a stipend of 2500rs during the training period of 6 month after t...

Hi i am working in an IT company wherein Bond was signed by a few employees travelling abroad for a period of two years. One of such employee has resigned nowThe facts are as followsThe Employee signed the Agreement which was on the letter head of the companyThe...

Dear AllI have just joined a company 15 days back. They told me that I will have to sign a Service Contract of 2 years and cannot join a competitor in that span.After two days of joining they brought a backdated 50 rupees Stamp paper and made me sign a contract ...

What is the situation of hiring after COVID looking for expert opinion?

Hi All!Im confused with these issue:How far is it true that a written bond has a legal value in India?What is it meant for? Just to ensure mimimum commitment from the employee?On what basis is the period of bond determined?I work for a HR Placement firm… Will th...

Service bonds/ agreements are generally invalid irrespective of the points 1-5 mentioned by you hereinabove. If you have been provided with any special training, then cost of such training can only be recovered through this bond, nothing more. Bond cannot be use...