Would like to have a format of employee bond stating he would be with the organization for 3 years and in case changes have to pay the amount
From India, Mumbai
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From India, Mumbai
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Can you help with the following questions for better clarity on your issue:
1. What industry is your organization in?
2. Why do you need such bonds, and that too for a prolonged 3-year tenure?
3. What kind of amount should an employee pay (in your or your firm's view) if they break the bond?
4. Who would be signing this bond - all employees or only a specific department?
Also note that any kind of bonded labor or service is illegal in India. Service bonds are not acceptable and not viable in legal processing.
There are firms that ask candidates to sign a service agreement, but the bond breakage charge would be limited to the cost of training provided. So, if no training is provided, the employee is not liable to pay even a penny.
It is essential to know why you want to include such a clause in employment to respond to your query.
Kindly revert back with the answers to the above questions.
Please read through the following links which will help you understand the service bond better:
1. https://www.citehr.com/132733-validi...tter-head.html
2. https://www.citehr.com/30808-bond-legal-india.html
Regards
From India, Mumbai
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7421. What industry is your organization in?
2. Why do you need such bonds, and that too for a prolonged 3-year tenure?
3. What kind of amount should an employee pay (in your or your firm's view) if they break the bond?
4. Who would be signing this bond - all employees or only a specific department?
Also note that any kind of bonded labor or service is illegal in India. Service bonds are not acceptable and not viable in legal processing.
There are firms that ask candidates to sign a service agreement, but the bond breakage charge would be limited to the cost of training provided. So, if no training is provided, the employee is not liable to pay even a penny.
It is essential to know why you want to include such a clause in employment to respond to your query.
Kindly revert back with the answers to the above questions.
Please read through the following links which will help you understand the service bond better:
1. https://www.citehr.com/132733-validi...tter-head.html
2. https://www.citehr.com/30808-bond-legal-india.html
Regards
From India, Mumbai
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Service agreement.doc
OVERSEAS SERVICE AGREEMENT.pdf