What is Employment Bond ? | Employment Bond Rules in India | Is An Employment Bond Legal ?
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- Опубликовано: 14 окт 2024
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Employee Bonds: Legal or Not in India?
In India, bond agreements are legal contracts between an employer and an employee that typically require the employee to commit to working for the company for a specified period, the period of which usually varies from two to three years. The employee is usually required to sign the bond agreement before joining the company.
Intention of employer while executing the Employee Bond is that if the employee quits his/her job before he/she completes this minimum time period, then such an employee will have to pay a particular amount as compensation to the employer. The rationale behind this agreement is that the employer seeks to recover the costs he/she faces in training the employee, recruiting a replacement, losses faced until a replacement is hired, etc. by imposing the employment bond liability, the employee will have to think twice before quitting his/her job as the bond serves as a deterrent to prematurely terminating the contract of employment.
The enforceability of these bond agreements can depend on various factors such as the terms and conditions of the bond, the reason for leaving the company, and the applicable laws in the country or state where the employee is working.
Under Indian law, any agreement that restrains a person from carrying on a lawful profession, trade, or business is void. However, bond agreements can be enforceable if they are designed to protect the employer's legitimate interests and are reasonable in nature.
For example, if an employer provides specialized training to an employee, they may require the employee to sign a bond agreement stating that they will work for the company for a specified period after completing the training. This bond agreement is designed to protect the employer's investment in the employee's training.
However, if the bond agreement is oppressive, unreasonable, or against public policy, it may be deemed void by the courts. For example, if the bond agreement requires the employee to pay a significant amount of money if they breach the agreement, it may be considered unconscionable and against public policy.
In conclusion, bond agreements are legal in India under certain conditions, but their enforceability depends on various factors. Both employers and employees should seek legal advice before entering into such agreements to ensure that their rights and obligations are adequately protected.
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sir meri company bond kr rahi hai ki same manufacturing company mai next 3years ke liye kam nhi kr sakta kya ye sahi hai...agar aisa hoga to mera growth kaise hogi
Sir maine 1 din me chodne ka faisla liya maine bond aur documents copy what's app per bheji hai original bond aur documents mere pass hi hai to mai leave ho sakta hu kya aur mujhe panalty lagegi kya mera notis pred 3 month hai mere training bhi nahi hui hai please ans me 🙏🙏
For sure
Sir, my company signed me a bond of 2 years.
Bond paper is on letterhead not on proper stamp paper.
Is this type of bond valid or not ?
Genuine efforts hai bhai, thanks
What should a company do if they spend two lac on Employee training and give 1 lac per month for 4 months during his training as well? Now he has learned everything and wants to leave the company for a raise of 1.5 lac per month...
Hello sir
Agar company 1 lakh per month degi to koi nhi chhodega
Yaha 12k de rhe hai aur 2 saal ka bond de rkha hai
First salary le li, but no training. Can I leave ?
I pay my bond amount then I go for courts case because of I need to join new company is it possible.
you can join the new company and you don't need to pay the bond amount and then you can approach the court
If you give one to one consultation please say. I need to consult you on this leaving my employer.
sir agr check book cancel karva di ho to
Sir ji, muze 3lakh mang rhe hai 3 monthe job kiya, bond papaer pe sign kia. Blank cheque leke amount employer ne fill kiya. salary 9820 per month. Pay karna padega kya 3 lakhs? Please suggest 🙏
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@@SunilSharma-ju3je Advocate ko refer kar ke notice ka answer Diya hai.
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@@SunilSharma-ju3je aj ke date tak to nhi aya.
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What if not on stamp papers
Same question for me , I have sent a digital signed copy on the CTC paper , no stamp paper was involved. Anyone please reply thankyou
Sir agar sign krne ke 15 din baad chhor skte hai
Yes
Did u sign a bond on CTC paper or else on stamp paper?
@@543sunithYes I'm signed on a stamp paper what should I do??
Why this video content is exactly same as LLA video?😂
Hi sir muje aapki help chahiye
Sir mene 01/02/2424 ko job join kiya tha aur waha mujse 3 year bond and agreement bhi sign karvaya tha.
Aur 100000/- ka cheque sign kiya hua mujse liya tha
Par 5 din bad muje lagaki me ye job nahi kar paunga. Isliye mene HR manager se baat ki to unhone muje 100000 ka cheque deposit kardenge vesa kaha hai
Sir please help me.
Maine sirf 5 din hi kam kiya hai.
bhai company ka nam btaye taki hmlog alert rahe?
Thanks 👍👍
Welcome 👍