Hi, Friend,
Today, I had an interview with an IT company. I wasn't asked many HR-related questions, but towards the end, they requested me to draft a one-year bond and send it to them. Could you please provide me with a sample of the bond commonly used in the IT industry?
Thanks,
Chitra
From India, Mumbai
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24Today, I had an interview with an IT company. I wasn't asked many HR-related questions, but towards the end, they requested me to draft a one-year bond and send it to them. Could you please provide me with a sample of the bond commonly used in the IT industry?
Thanks,
Chitra
From India, Mumbai
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Hi Chitra,
This agreement is made on the __________ day of _______________ between _______________________ herein referred to as "Company," incorporated under the Companies Act, 1956, having its address at ___________________________.
And
___________________- herein referred to as "Employee" working as ______________ and residing at _______________________________________.
The parties to this agreement, The Company and the Employee hereby agree:
1. That the company will provide necessary training, whenever required and as decided by the company, to enhance his skills and knowledge.
2. That the company will not charge any amount for the training provided to the employee during his employment with the company.
3. That the employee will undergo the necessary training as identified and provided by the company.
4. That the employee will serve for _______ months of continuous employment from the date of joining.
5. That in case the employee does not terminate his employment or resign from his employment before the completion of the continuous service of _____ months as agreed under clause 4.
6. That in case of termination of his employment with the company before completion of the continuous ____ months of service as agreed above in clause 4, the employee would pay the company a compensation of Rs. ________- (Rupees __________) towards the cost of recruitment, induction, training, and other incidental charges. This is typically the cost of making the person employable.
7. That the termination of the employment would be as per the agreed terms and conditions mentioned in the original offer letter to the employee.
8. All disputes or differences whatsoever arising between the parties out of or relating to the construction, meaning, or operations or effect of this Agreement or breach thereof shall be settled by arbitration by a single arbitrator in accordance with the rules of Arbitration and Conciliation of the ____________ Chamber of Commerce and Industry, and the award made pursuant thereof shall be final and binding on the parties hereto.
9. Subject to the foregoing, this Agreement shall be governed and construed in accordance with the laws of India and in case of any dispute, the jurisdiction of courts would be in _______________.
Please note that the font style specified in your text has been removed for clarity and consistency.
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This agreement is made on the __________ day of _______________ between _______________________ herein referred to as "Company," incorporated under the Companies Act, 1956, having its address at ___________________________.
And
___________________- herein referred to as "Employee" working as ______________ and residing at _______________________________________.
The parties to this agreement, The Company and the Employee hereby agree:
1. That the company will provide necessary training, whenever required and as decided by the company, to enhance his skills and knowledge.
2. That the company will not charge any amount for the training provided to the employee during his employment with the company.
3. That the employee will undergo the necessary training as identified and provided by the company.
4. That the employee will serve for _______ months of continuous employment from the date of joining.
5. That in case the employee does not terminate his employment or resign from his employment before the completion of the continuous service of _____ months as agreed under clause 4.
6. That in case of termination of his employment with the company before completion of the continuous ____ months of service as agreed above in clause 4, the employee would pay the company a compensation of Rs. ________- (Rupees __________) towards the cost of recruitment, induction, training, and other incidental charges. This is typically the cost of making the person employable.
7. That the termination of the employment would be as per the agreed terms and conditions mentioned in the original offer letter to the employee.
8. All disputes or differences whatsoever arising between the parties out of or relating to the construction, meaning, or operations or effect of this Agreement or breach thereof shall be settled by arbitration by a single arbitrator in accordance with the rules of Arbitration and Conciliation of the ____________ Chamber of Commerce and Industry, and the award made pursuant thereof shall be final and binding on the parties hereto.
9. Subject to the foregoing, this Agreement shall be governed and construed in accordance with the laws of India and in case of any dispute, the jurisdiction of courts would be in _______________.
Please note that the font style specified in your text has been removed for clarity and consistency.
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Employment Agreement.pdf