Hello, I have to sign a company bond for 2 + 1/2 years. The bond is only on the company letter pad; there was no notary or any type of stamp paper. Is this bond valid in India?
I have been selected by another company with a higher salary. Can I join that company? The bond amount was 50,000 INR. If I leave this company, could the company take me to court? Please help me with a solution.
From India, Gold
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1I have been selected by another company with a higher salary. Can I join that company? The bond amount was 50,000 INR. If I leave this company, could the company take me to court? Please help me with a solution.
From India, Gold
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I am not an HR person, but I came across this using our research bar at the top. Please check if it's helpful or search for more material.
URL: [https://www.citehr.com/30808-bond-legal-india.html](https://www.citehr.com/30808-bond-legal-india.html)
Regards,
Sid
From India, Gurgaon
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URL: [https://www.citehr.com/30808-bond-legal-india.html](https://www.citehr.com/30808-bond-legal-india.html)
Regards,
Sid
From India, Gurgaon
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It is valid because you have agreed on an agreement and signed it on the company letterhead. It does not matter if a notary is done or not. The company can go to a nearby bank and spend Rs 100 to do the franking, making it a more legal document if they wish to.
For amounts up to 50K, will the company go to court? If the value is less than 50k, they can go to the district court and get the judgment within 1 year. If the amount is 50k or more, they can go to the High Court.
You can negotiate and settle with one month's salary. They cannot approach the court unless they send you two legal notices. Ensure that you or any member of your family never receive those notices addressed to you. If they have your address, you will need to face this situation.
From India, Mumbai
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For amounts up to 50K, will the company go to court? If the value is less than 50k, they can go to the district court and get the judgment within 1 year. If the amount is 50k or more, they can go to the High Court.
You can negotiate and settle with one month's salary. They cannot approach the court unless they send you two legal notices. Ensure that you or any member of your family never receive those notices addressed to you. If they have your address, you will need to face this situation.
From India, Mumbai
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Company Car Policy.doc