Hi. I just joined a small pharma company as a fresher, working as a business development executive trainee. I've been made to sign an employment bond which states that I have to work for a minimum of 2 years. If I decide to leave before that, I will have to pay back 2 months of CTC and serve an unpaid notice period of 2 months. The company will not provide me with an experience certificate and relieving letter even if I pay back my 2 months of CTC and serve the notice period. They made me sign it on a company letterhead. Is this bond enforceable? Will I really not get the experience certificate if I decide to leave after one year?
From India, Ahmedabad
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From India, Ahmedabad
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Hi, when you were not sure about completing 2 years, why did you join them?
Any employer who provides training, which involves cost, will naturally expect a certain minimal period of stay. However, in your case, the terms and conditions of your employer seem to be unilateral, favoring their side alone. Normally, such agreements should be on judicial stamp paper, duly registered or notarized. The validity of a bond on a letterhead, even if one-sided, cannot be equivalent to one on judicial stamp paper. However, if you violate the terms, the impact will be more significant for you rather than the employer. They may withhold relieving letters, full and final settlement, and provide negative feedback during background verification. So, handle this issue diplomatically and try for proper relieving.
From India, Madras
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1016Any employer who provides training, which involves cost, will naturally expect a certain minimal period of stay. However, in your case, the terms and conditions of your employer seem to be unilateral, favoring their side alone. Normally, such agreements should be on judicial stamp paper, duly registered or notarized. The validity of a bond on a letterhead, even if one-sided, cannot be equivalent to one on judicial stamp paper. However, if you violate the terms, the impact will be more significant for you rather than the employer. They may withhold relieving letters, full and final settlement, and provide negative feedback during background verification. So, handle this issue diplomatically and try for proper relieving.
From India, Madras
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Experience certificate.doc