Hello Seniors
I am not a HR guy but I am in a situation from which I need a way out.
I am a CA. At the time of joining my present employment, I was asked to write a Rs 100 bond for two years. The matter is as follows.
\"I hereby undertake to work with xxx co pvt ltd. for a period of two years, otherwise I will pay Rs 3 Laks to the co. etc. I indemnify the co. of all the damages caused in case of negligence on my part\"
That is the main content. The sign of surety is not there.
The work profile is not like IT where i am trained or anything. It is basically finance function and I am fully qualified without requirement of any training. Its been a year since I joined and there is still a year of bond period to go. The current situation is that I am being forced to do the work which was being done by two people for the salary of less than one. So is it a valid bond? Am I required to stay even if I have grounds for resignation like undue pressure. Can the company refuse to give
From India, Hyderabad
I am not a HR guy but I am in a situation from which I need a way out.
I am a CA. At the time of joining my present employment, I was asked to write a Rs 100 bond for two years. The matter is as follows.
\"I hereby undertake to work with xxx co pvt ltd. for a period of two years, otherwise I will pay Rs 3 Laks to the co. etc. I indemnify the co. of all the damages caused in case of negligence on my part\"
That is the main content. The sign of surety is not there.
The work profile is not like IT where i am trained or anything. It is basically finance function and I am fully qualified without requirement of any training. Its been a year since I joined and there is still a year of bond period to go. The current situation is that I am being forced to do the work which was being done by two people for the salary of less than one. So is it a valid bond? Am I required to stay even if I have grounds for resignation like undue pressure. Can the company refuse to give
From India, Hyderabad
Dear Questioner,
You might've viewed a heated group discussion in a Chennai-based popular English News T.V Channel on the topic 2 years ago. If I remember correct 2 view-points, one for n the other against, were vehemently pressed by the panelists, a majority of them were top HR people.Personally, I would support the practice by such companies which recruit freshers for their core activities, impart necessary training by spending considerable time n money n place them on their jobs.But,the practice of obtaining bonds from people well-qualified in staff n support activity like yours at the time of entry n employing pressure tactics on this score alone for obvious reasons is quite unethical n highly deplorable. However, u might 've signed such a bond with ur eyes n mind open.THEREFORE, be a little bit more thick-skinned n impervious to the tortures, push the remaining period by neck n quit.Otherwise, if u are dare enough put down ur papers explaining every thing in detail and say good bye without waiting for any response.However, consult an experienced lawyer in service-matters before!
From India, Salem
6018You might've viewed a heated group discussion in a Chennai-based popular English News T.V Channel on the topic 2 years ago. If I remember correct 2 view-points, one for n the other against, were vehemently pressed by the panelists, a majority of them were top HR people.Personally, I would support the practice by such companies which recruit freshers for their core activities, impart necessary training by spending considerable time n money n place them on their jobs.But,the practice of obtaining bonds from people well-qualified in staff n support activity like yours at the time of entry n employing pressure tactics on this score alone for obvious reasons is quite unethical n highly deplorable. However, u might 've signed such a bond with ur eyes n mind open.THEREFORE, be a little bit more thick-skinned n impervious to the tortures, push the remaining period by neck n quit.Otherwise, if u are dare enough put down ur papers explaining every thing in detail and say good bye without waiting for any response.However, consult an experienced lawyer in service-matters before!
From India, Salem
Dear Umakanthan ji,
Greetings of the Day to you as well all viewers.
Here my views are different than you. With due respect to you and your knowledge I submit in short due to time constraint as under:
• it is violation of fundamental rights as given by our Constitution.
• SC said that no employee can be forcefully employed against his will just because he signed a contract with his employer.
• Indian Contract Act says if a contract is one sided it is null and void. Also, if it is enforced and harms any party, it boilers the principal of natural justice.
• IPC sec 368 says if any person or institute holds back any document or use any legal document or threatens any legal suit or action and thus forces a person to perform any act against his will or wish, it is illegal or wrong.
• bond can be executed only when company incurres any amount on training the employee on his personal grooming and enhancement and not just on his better performance.
From India, Mumbai
Greetings of the Day to you as well all viewers.
Here my views are different than you. With due respect to you and your knowledge I submit in short due to time constraint as under:
• it is violation of fundamental rights as given by our Constitution.
• SC said that no employee can be forcefully employed against his will just because he signed a contract with his employer.
• Indian Contract Act says if a contract is one sided it is null and void. Also, if it is enforced and harms any party, it boilers the principal of natural justice.
• IPC sec 368 says if any person or institute holds back any document or use any legal document or threatens any legal suit or action and thus forces a person to perform any act against his will or wish, it is illegal or wrong.
• bond can be executed only when company incurres any amount on training the employee on his personal grooming and enhancement and not just on his better performance.
From India, Mumbai
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Bond of Employment.doc
Bond in employment.pdf