Hi,
Iam a new member to this group and i really enjoy being part of this group.
Can anyone tell me about the legality of service/employment bond that some companies insist on executing at the time of joining. I would like to know the legality of such bonds when
1. A person executes for 2-3 years & there is no training or any such intellectual property that is being transferred to the employee during the tenure
2. When the bond is executed by a well experienced person say with experience of over 11 years
3.what are the legal measures the organisation can put into effect when an employee leaves with out honouring the bond period
4. What are the legal measures an employee can resort to incase he gets fired during the bond period
Look forward to your valued inputs
Thanks
From India, Bangalore
20Iam a new member to this group and i really enjoy being part of this group.
Can anyone tell me about the legality of service/employment bond that some companies insist on executing at the time of joining. I would like to know the legality of such bonds when
1. A person executes for 2-3 years & there is no training or any such intellectual property that is being transferred to the employee during the tenure
2. When the bond is executed by a well experienced person say with experience of over 11 years
3.what are the legal measures the organisation can put into effect when an employee leaves with out honouring the bond period
4. What are the legal measures an employee can resort to incase he gets fired during the bond period
Look forward to your valued inputs
Thanks
From India, Bangalore
hie sherine...
bonds/contracts hold no value as the GOVT OF INDIA has already abolished bonded labour act..these are not loegally enforcable...as far as my knowledge goes...wipro makes people to sign bonds and the same people break them..but let me update myself on the issue...i will get bk to u...on the issue....
regards
scare_crow
From India, Mumbai
bonds/contracts hold no value as the GOVT OF INDIA has already abolished bonded labour act..these are not loegally enforcable...as far as my knowledge goes...wipro makes people to sign bonds and the same people break them..but let me update myself on the issue...i will get bk to u...on the issue....
regards
scare_crow
From India, Mumbai
Hi
Check out the following link which appeared in todays economic times.
Bond or no bond; you are a free bird
It is very informative
http://economictimes.indiatimes.com/...ow/1196073.cms
From India, Bangalore
Check out the following link which appeared in todays economic times.
Bond or no bond; you are a free bird
It is very informative
http://economictimes.indiatimes.com/...ow/1196073.cms
From India, Bangalore
Hi,
I am working in Malaysia company in IT department in Malaysia. I signed two years bond with company the bond amount is if i terminate before 365 days than i will have to pay 6 months salary+Flight tickets + Visa fees+other exepenses incurred by company. If i terminate after 365 days but before 2 years than 3 months salary + all above. I came from india.
I already served 1 year and company has not given my bonus or any salary increment. Bonus is 10% of salary depends on performance. So company simply says that my performance is not up to the mark. Second thing i have family issues also, my MOther is not feeling well and i already submitted Medical certificate for this. BUt company is still demanding Bond money. I given them 3 months notice after discussion with my Manager and my manager ensured that he will waive off the money if i streamline the process ( Not in written) I did again hardwork and completed my tasks. NOw my manager is saying that it's depends on HR whether they want to waive off or not and simply change my department. Now he is not my manager and i heard he is leaving. The new HOD is also not cooperative. There were 6-7 employees who belongs to India and already left 4 employees as this company is treating very bad. They all ran away and nobody paid the bond. I could do also but i wanted peacefully leaving.
Can somebody guide me how to tackle this situation. I resigned in April and my last day in july but company is not ready to waive off my bond. As the Bond money is very high i taken back my resignation as of now.
One more thing the bond clause is on Appointment letter not on any separate agreements.
Regards
Vicky
more at https://www.citehr.com/9912-service-...#ixzz0oM6OW0Hz
From Malaysia, Kuala Lumpur
I am working in Malaysia company in IT department in Malaysia. I signed two years bond with company the bond amount is if i terminate before 365 days than i will have to pay 6 months salary+Flight tickets + Visa fees+other exepenses incurred by company. If i terminate after 365 days but before 2 years than 3 months salary + all above. I came from india.
I already served 1 year and company has not given my bonus or any salary increment. Bonus is 10% of salary depends on performance. So company simply says that my performance is not up to the mark. Second thing i have family issues also, my MOther is not feeling well and i already submitted Medical certificate for this. BUt company is still demanding Bond money. I given them 3 months notice after discussion with my Manager and my manager ensured that he will waive off the money if i streamline the process ( Not in written) I did again hardwork and completed my tasks. NOw my manager is saying that it's depends on HR whether they want to waive off or not and simply change my department. Now he is not my manager and i heard he is leaving. The new HOD is also not cooperative. There were 6-7 employees who belongs to India and already left 4 employees as this company is treating very bad. They all ran away and nobody paid the bond. I could do also but i wanted peacefully leaving.
Can somebody guide me how to tackle this situation. I resigned in April and my last day in july but company is not ready to waive off my bond. As the Bond money is very high i taken back my resignation as of now.
One more thing the bond clause is on Appointment letter not on any separate agreements.
Regards
Vicky
more at https://www.citehr.com/9912-service-...#ixzz0oM6OW0Hz
From Malaysia, Kuala Lumpur
Dear Madam
Damages for Breach of Service contract.
A contract for service is arising under the Indian Contract Act, 1872. As per sec. 73 of the said Act is provided as under:
“Sec. 73. Compensation for loss or damage caused by breach of contract –
When a contract has been broken, the party who suffers by such breach is entitled to receive, from the party who has broken the contract, compensation for any loss or damage caused to him thereby, which naturally arose in the usual course of things from such breach, or which the parties knew, when they made the contract, to be likely to result from the breach of it.
Such compensation is not to be given for any remote and indirect loss or damage sustained by reason of the breach.
Compensation for failure to discharge obligation resembling those created by contract - When an obligation resembling those created by contract has been incurred and has not been discharged, any person injured by the failure to discharge it is entitled t
From India, Panaji
Damages for Breach of Service contract.
A contract for service is arising under the Indian Contract Act, 1872. As per sec. 73 of the said Act is provided as under:
“Sec. 73. Compensation for loss or damage caused by breach of contract –
When a contract has been broken, the party who suffers by such breach is entitled to receive, from the party who has broken the contract, compensation for any loss or damage caused to him thereby, which naturally arose in the usual course of things from such breach, or which the parties knew, when they made the contract, to be likely to result from the breach of it.
Such compensation is not to be given for any remote and indirect loss or damage sustained by reason of the breach.
Compensation for failure to discharge obligation resembling those created by contract - When an obligation resembling those created by contract has been incurred and has not been discharged, any person injured by the failure to discharge it is entitled t
From India, Panaji
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