Hi all, I am a BE (IT) 2010 graduate. I was working as an FO Engineer with Ericsson, but I want to switch to software development. I have been offered a job as a Trainee Software Developer, but to accept it, I am required to sign a bond for 2 years with the company, amounting to 75,000 (for which I have to submit an undated cheque to the company). This bond is on simple paper with a stamp from some court.
In addition to this, the company will withhold 15% of my salary every month, which will be refundable after 2 years. If I break the bond, I will have to pay 75,000 to the company, and the retained amount will not be refunded to me.
I am unsure whether I should sign this bond or not. Please advise.
Thanks
From India, Delhi
Acknowledge(0)
Amend(0)
In addition to this, the company will withhold 15% of my salary every month, which will be refundable after 2 years. If I break the bond, I will have to pay 75,000 to the company, and the retained amount will not be refunded to me.
I am unsure whether I should sign this bond or not. Please advise.
Thanks
From India, Delhi
Acknowledge(0)Amend(0)
Atul Agarwal has asked the right question. If the company is reasonably good, it may be worth it. If it's some sort of a fly-by-night company, it may not be worth it. If you don't want to name the company, make your own checks on their credibility with your known sources/references and then decide—and please don't depend on just one or two references.
Focus on Career Growth
The focus you need to have is this: will your career take off if you accept this opportunity? If yes, go ahead.
After all, the company is trying to protect its interests, given the present scenario of people joining and then quitting at their pleasure—leaving the company with hefty salary and training bills.
Regards,
TS
From India, Hyderabad
Acknowledge(0)Amend(0)
1650Focus on Career Growth
The focus you need to have is this: will your career take off if you accept this opportunity? If yes, go ahead.
After all, the company is trying to protect its interests, given the present scenario of people joining and then quitting at their pleasure—leaving the company with hefty salary and training bills.
Regards,
TS
From India, Hyderabad
Acknowledge(0)Amend(0)
That's a reasonably good company. Just check if there are others in the same situation as you regarding the bond. If yes, you can go ahead, as far as my opinion goes. Also, the bond of 2 years isn't very high.
All the best.
Regards,
TS
From India, Hyderabad
Acknowledge(0)Amend(0)
All the best.
Regards,
TS
From India, Hyderabad
Acknowledge(0)Amend(0)
A 2-year bond is not very high, but before signing it, try to get in touch with the people who are working in the same profile for the same company. Ask them about the work culture over there, inquire about how satisfied they are with their work as well as with the immediate manager and all. Try to learn as much as you can about their work culture.
Thanks
From India, Madras
Acknowledge(0)Amend(0)
Thanks
From India, Madras
Acknowledge(0)Amend(0)CiteHR is an AI-augmented HR knowledge and collaboration platform, enabling HR professionals to solve real-world challenges, validate decisions, and stay ahead through collective intelligence and machine-enhanced guidance. Join Our Platform.
Bond of Employment.doc
Bond in employment.pdf