Hi all,
Kindly help me with the following issues.
I joined a registered Pvt. Ltd. company in Bangalore in August 2009. They have requested me to execute a bond for 5 years. I had 6 years of experience when I joined. Since I was desperate for a job at that time and wanted to settle down, I agreed and signed it.
The bond states that the company incurs Rs. 2 Lakhs for my training. If I have to leave the company, I have to pay 75% (i.e., Rs. 1.5 Lakh) as compensation. The remaining 25% is the amount the company will earn from my work. They also have my original certificates.
I was not given a copy of the bond, as it is a company policy, and I did not receive a receipt for the submission of certificates.
The company provided me with a 15-day induction training and kept me on probation for 4 months. In December, I was confirmed.
No special training was provided to me.
Currently, I am feeling overburdened with work and not being treated properly. Sarcastic comments from my boss have become a part of my daily routine in the office.
I am facing discord in my marital life, adding to the pressure that is exceeding my limits.
Both my personal and professional life are draining me mentally.
Now, I wish to resign from my job, settle in my native place, and find a job there.
It is noted that if I leave after the bond period, I have to give a 3-month notice or 3 months' pay.
Please advise me on the implications of submitting my resignation letter.
Note: I recently had the opportunity to see my bond in the office. Only my signature is present on the bond. In the witness section, they have written "father" in brackets, but my father hasn't signed it. No one from the company has signed it; only the company seal with the address is present. Will this bond be valid?
From India, Kochi
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Kindly help me with the following issues.
I joined a registered Pvt. Ltd. company in Bangalore in August 2009. They have requested me to execute a bond for 5 years. I had 6 years of experience when I joined. Since I was desperate for a job at that time and wanted to settle down, I agreed and signed it.
The bond states that the company incurs Rs. 2 Lakhs for my training. If I have to leave the company, I have to pay 75% (i.e., Rs. 1.5 Lakh) as compensation. The remaining 25% is the amount the company will earn from my work. They also have my original certificates.
I was not given a copy of the bond, as it is a company policy, and I did not receive a receipt for the submission of certificates.
The company provided me with a 15-day induction training and kept me on probation for 4 months. In December, I was confirmed.
No special training was provided to me.
Currently, I am feeling overburdened with work and not being treated properly. Sarcastic comments from my boss have become a part of my daily routine in the office.
I am facing discord in my marital life, adding to the pressure that is exceeding my limits.
Both my personal and professional life are draining me mentally.
Now, I wish to resign from my job, settle in my native place, and find a job there.
It is noted that if I leave after the bond period, I have to give a 3-month notice or 3 months' pay.
Please advise me on the implications of submitting my resignation letter.
Note: I recently had the opportunity to see my bond in the office. Only my signature is present on the bond. In the witness section, they have written "father" in brackets, but my father hasn't signed it. No one from the company has signed it; only the company seal with the address is present. Will this bond be valid?
From India, Kochi
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Dear Anand,
You have entered into a wrong agreement. You should not have done this. Expenses incurred by the employer on training are recoverable, specifically if it is costly, and such bonds are enforceable in the court of law. A case can be filed against you if you disregard the terms and conditions mentioned therein.
Had it been a bond other than the training cost, it would not have been enforceable in the court of law because, as per the Bonded Labour Act 1970, bonded labor is not permissible, and it is an offense by the employer.
Since you have seen your bond agreement and you are saying that it bears the official seal of the company, that itself acts as a signature, whether physically signed or not. The company's official can sign it as and when the need arises. Physical signature is not needed because the company itself is an artificial person, and it has a distinct legal entity independent of its own; its official seal itself is sufficient.
From India, Rohtak
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15You have entered into a wrong agreement. You should not have done this. Expenses incurred by the employer on training are recoverable, specifically if it is costly, and such bonds are enforceable in the court of law. A case can be filed against you if you disregard the terms and conditions mentioned therein.
Had it been a bond other than the training cost, it would not have been enforceable in the court of law because, as per the Bonded Labour Act 1970, bonded labor is not permissible, and it is an offense by the employer.
Since you have seen your bond agreement and you are saying that it bears the official seal of the company, that itself acts as a signature, whether physically signed or not. The company's official can sign it as and when the need arises. Physical signature is not needed because the company itself is an artificial person, and it has a distinct legal entity independent of its own; its official seal itself is sufficient.
From India, Rohtak
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In India, employment bonds should be banned. Any company that requires an employment bond from its employees should have its license canceled because they may exploit employees according to their own will and wishes. Do not enter into any agreement involving a bond with any company.
From India, Bangalore
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From India, Bangalore
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Bond of Employment.doc
Bond in employment.pdf