My company is asking me to sign a bond of 2 years with them. My probation period of 6 months is about to end, and now they are asking this (although nothing related to the bond was mentioned in the joining letter or anywhere when I joined the company 6 months ago). I just want to know, can a company ask this at this point in time? Is it legal/ethical?
From India, Kolkata
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2From India, Kolkata
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The legality of employment bonds insisted on by the employer depends on various factors, such as the nature and position of the job, the duration of the bond period, the length of time and the amount of money invested by the employer to provide training to the employee, and the amount of liquidated damages for breach of the bond, etc.
However, since no execution of such a bond was mentioned in the offer of the poster, it is for the poster to accept or decline it. In this case, the employer may simply terminate the service of the employee if he happens to be a probationer.
From India, Salem
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However, since no execution of such a bond was mentioned in the offer of the poster, it is for the poster to accept or decline it. In this case, the employer may simply terminate the service of the employee if he happens to be a probationer.
From India, Salem
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Thank you very much for your response. May I please ask you or anyone going through this thread to share the relevant clauses/acts here so that I can gain a good knowledge of this? Also, if you could kindly name the clause/act (as they are available on the internet), I'll be able to study them a little bit.
Thanks in advance.
From India, Kolkata
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Thanks in advance.
From India, Kolkata
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There is nothing wrong with it. This implies that you are going to be confirmed upon completion of probation. You should check whether others in your position have furnished a bond or not. Many times, management can also adopt a policy to take a bond from the employee they would recruit. Upon confirmation of your service, a fresh appointment letter can be issued. It is legal and ethical.
From India, Mumbai
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From India, Mumbai
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Bond letter.doc