Hi All,
We are sending an employee for a training which would involve some hefty amount. We would like this person to stay atleast till next year. Hnec ewe are planning to issue a training bond or understanking with this person.
Kindly share the formats related to Training Bonds, undertaking etc ASAP.
Thanks in advance.
Regards
Verma HR
From India, Gurgaon
We are sending an employee for a training which would involve some hefty amount. We would like this person to stay atleast till next year. Hnec ewe are planning to issue a training bond or understanking with this person.
Kindly share the formats related to Training Bonds, undertaking etc ASAP.
Thanks in advance.
Regards
Verma HR
From India, Gurgaon
28Just check whether this would help you.......
SERVICE BOND FOR TRAINING ABROAD.
THIS BOND is given by me the undersigned Mr. residing at . in favour of XYZ XYZ India Private Limited (hereinafter referred to as the Company) having its registered office at _________________ as follows :
WHEREAS
A. I have been in the employ of the Company as a . since ..;
B. In order to assist me in acquiring certain specialized technical skills and knowledge in production and help me better understand the products, the Company has arranged training in Israel by incurring all expenses of training, traveling and board and lodging and the . Company has incurred a total amount of Rs. ./- (Rupees . Only) towards such training, traveling, board and lodging expenses; and
C. The Company has agreed to sponsor me for the training as aforestated on the condition that I execute this Bond and obtain a guarantee in favour of the Company as hereinafter provided.
NOW THEREFORE I HEREBY AGREE AS FOLLOWS:
1. I hereby agree to bind myself to serve the Company for a minimum period of years from the date of my return after completion of training in ________l.
2. I shall not, for a period of ------- years from the date of my return, secure or attempt to secure any other job without the previous written consent of the Company.
3. I shall not at any time or times, without the consent of the Company, either during the term of my employment or thereafter, disclose, divulge or make public technical or business know-how or information acquired by me in the course of my said training in __________.
4. In the event of breach of terms of any of the Clauses foregoing, I undertake to pay to the Company the said amount of Rs. ______(Rupees _______) mentioned in Recital B above which the Company has spent towards my training, traveling and board and lodging expenses.
5. If I fail to pay the aforesaid amount, the Company shall be entitled to recover the same from me or from the guarantor hereinafter mentioned entirely at my and the said guarantors risk as to costs and consequences.
Dated this day of
Employee No.
Name of the Employee
DATE:
__________________________________________________ ____________________________________
SERVICE BOND FOR SAP TRAINING.
THIS BOND is given by me the undersigned Mr. residing at . in favour of XYZ XYZ India Private Limited (hereinafter referred to as the Company) having its registered office at ____________as follows :
WHEREAS
A. I have been in the employ of the Company as a . since ..;
B. The Company has arranged for on the job training in SAP, US GAAP and SOX to upgrade my technical skills and professional knowledge in rendering my services in the aforesaid capacity; and
C. The Company has agreed to sponsor me for the training as aforestated on the condition that I execute this Bond and obtain a guarantee in favour of the Company as hereinafter provided.
NOW THEREFORE I HEREBY AGREE AS FOLLOWS:
- I hereby agree to bind myself that, after undergoing the training in SAP, US GAAP and SOX requirements, I shall serve the Company for a minimum period of thirty months from the date of my appointment.
- I shall not, for a period of thirty months from the date of my appointment, secure or attempt to secure any other job without the previous written consent of the Company.
- I shall not at any time or times, without the consent of the Company, either during the term of my employment or thereafter, disclose, divulge or make public technical or business know-how or information acquired by me in the course of my said training .
- In the event of breach of terms of any of the Clauses foregoing, I undertake to pay to the Company an amount of Rs 2,00,000/- (Rupees Two Lakhs Only) towards the costs incurred by the Company in organizing the said training which includes traveling and board and lodging expenses.
- If I fail to pay the aforesaid amount, the Company shall be entitled to recover the same from me or from the guarantor hereinafter mentioned entirely at my and the said guarantors risk as to costs and consequences.
Employee No..
Name of the Employee
DATE:
From United States
I am also looking for a format for a Minimum Service Bond for 2 years for an employee being placed in Overseas operations
From India, Thrissur
From India, Thrissur
I am giving below the format for training bond. You may use the same by making certain amendments , wherever necessary.
THIS AGREEMENT is made at ……………………….(Place) on dated……………… between M/s……………, a Company registered under the provisions of the Indian Companies Act 1956 having its registered/ Head Office at……………………., hereinafter referred to as “ The Company”( which expression shall unless repugnant to the context or meaning thereof, means and include its successors and assigns of the FIRST PARTY).
AND
Name- Mr……………………………………… S/o Shri…………………………….. Resident of …………………………………………………………………………………………………………………………………… ……., hereinafter referred to as “ The Employee” ( which expression unless repugnant to the context or meaning thereof, means and include its successors and assigns of the SECOND PARTY).
AND
Shri………………………………. S/o Shri……………………………. Resident of …………………………………………………………………………………………………………………………………… ……..
Hereinafter referred to as “ The Surety” ( which expression unless repugnant to the context or meaning thereof, means and include its successors and assigns of the THIRD PARTY).
WHEREAS the Employee is in the employment of the Company subject to terms and conditions contained in the Appointment Letter dated………………….. and Date of Joining:…………………………..
AND WHEREAS the Company has opted for Enterprise Resource Planning Implementation in the Company for enhancing its capability due to the Technical Advancement.
AND WHEREAS for this purpose the Company has opted for a package considered to be the best in India/ in the World which entails/ calls for trained/ specialized persons for manufacturing of its…………………products , to be trained by………………….. which is an organization of repute.
AND WHEREAS for successful implementation and operation of its manufacturing facilities M/s…………….. has arranged training for select personnel’s of this “ Company”.
AND WHEREAS the Company has agreed to depute the “ Employee” to undergo specialized training through………………… to harness the skills of the “ Employee” for its productive use in the /for the “ Company”, the said training is highly specialized and may cost the “ Employee” substantially high amount of money in case the Employee has to undergo this training at his own cost.
AND WHEREAS the Employee has accepted the offer for training subject to such conditions as specified.
AND WHEREAS the Surety has agreed to guarantee the due performance/ discharge to the obligation of the Employee and in default/ breach of such conditions indemnify the Company on demand, such amount of money as detailed hereinafter due to the non-performance/ breach of this contract/ such breach of employment condition for which the “ Employee” is responsible.
NOW THIS DEED WITNESSETH AS UNDER:
1. That the “Employee” is desirous of undergoing training or manufacturing of its …………. Products, to be conducted by……………… and the Company agrees to depute the Employee for the training programme/ course, which is for a period of ……………….weeks.
2. That it is specifically agreed and understood that the cost of this training is included in the total package cost paid by the Company as mentioned in the preamble. The Employee has been deputed for this training by virtue of his association and employment with the Company and on his request for the said training and further on his assurance to continue in the services of the Company at least for the minimum assured period of……… years.
3. That the “ Employee” after due completion of the training has to/ and agrees to serve the “ Company” for a period of…….. years from the date of completion of the training, hereinafter referred to as the “ SERVICE PERIOD”. The Employee also agrees that once he joins the said training, he shall complete the training and not to leave the services of the Company in between the training period or after for ……. Year. In the event of breach of any of these conditions for whatsoever reasons the Employee will be liable for damages which may be on a higher side considering direct and indirect cost but are restricted to Rs……………………….. with consent of all parties hereto.
4. That if at any time during the training or post training Employment Period of- Three years from the date of completion of training the “ Employee”, if found guilty for misconduct or any willful neglect of work or dereliction of the duties assigned by the “Company”, from time to time, will be summarily terminated by giving one months` notice and the Employee shall be deemed to have brought about such a situation at his own and will be liable for all losses/ damages so occur by his acts of commission/ omission to the Company and any decision of the Company in this regard shall be final and binding on the Employee.
5. That all inventions, designs, programmed or such other improvements possessed by the trainee during the training period by virtue of the training shall vest with the Company and the Employee will have no right on it of whatsoever nature.
6. That the Surety shall be responsible for the acts/ omissions of the Employee and will indemnify the Company on demand such amount as calculated by the Company on breach of terms of the Agreement by the Employee forming part of this agreement.
7. That this agreement shall subsist throughout the employment period of the Employee and shall not be withdrawn in between without the express permission of the Company.
8. That this agreement shall be construed to be in force irrespective of the variation in the terms, tenure and responsibilities and duties of the Employee.
9. That the Employee and Surety hereby covenant and agree that the loss that will be suffered by the Company on the breach of any of the above mentioned terms of the agreement particularly of premature leaving of services or any such other reason can not be ascertained in terms of money but is a minimum amount calculated to compensate the loss which may accrue by the said breach of conditions by the Employee and t he sum calculated as above is reasonable and just compensation for the loss/ damage that may be caused to the Company and the Surety of Employee shall not raise any objection whatsoever on the computation of the damages.
10. That the Employee and Surety do hereby agree and bound themselves jointly and severally to indemnify and to pay the Company amount of loss as mentioned herein above computed by the Company or on actual loss to be or as calculated by the Company due tom any breach of terms of this agreement or such other acts of omission and commission detrimental to the interest of the Company.
11. That this agreement is executed at……. And ………… High Court alone shall have exclusive jurisdiction in case of any dispute.
12. Having clearly understood the terms and conditions set forth herein above and in witness whereof the parties do hereby affix their signatures on the date mentioned above without any fear, coercion or duress.
Witness 1………………………… Employee: Mr……………………..
Company: M/s……………………..
Witness 2 …………………………. Surety : Mr………………………….
Regards,
Sivadasan
From India, Udaipur
AGREEMENT
THIS AGREEMENT is made at ……………………….(Place) on dated……………… between M/s……………, a Company registered under the provisions of the Indian Companies Act 1956 having its registered/ Head Office at……………………., hereinafter referred to as “ The Company”( which expression shall unless repugnant to the context or meaning thereof, means and include its successors and assigns of the FIRST PARTY).
AND
Name- Mr……………………………………… S/o Shri…………………………….. Resident of …………………………………………………………………………………………………………………………………… ……., hereinafter referred to as “ The Employee” ( which expression unless repugnant to the context or meaning thereof, means and include its successors and assigns of the SECOND PARTY).
AND
Shri………………………………. S/o Shri……………………………. Resident of …………………………………………………………………………………………………………………………………… ……..
Hereinafter referred to as “ The Surety” ( which expression unless repugnant to the context or meaning thereof, means and include its successors and assigns of the THIRD PARTY).
WHEREAS the Employee is in the employment of the Company subject to terms and conditions contained in the Appointment Letter dated………………….. and Date of Joining:…………………………..
AND WHEREAS the Company has opted for Enterprise Resource Planning Implementation in the Company for enhancing its capability due to the Technical Advancement.
AND WHEREAS for this purpose the Company has opted for a package considered to be the best in India/ in the World which entails/ calls for trained/ specialized persons for manufacturing of its…………………products , to be trained by………………….. which is an organization of repute.
AND WHEREAS for successful implementation and operation of its manufacturing facilities M/s…………….. has arranged training for select personnel’s of this “ Company”.
AND WHEREAS the Company has agreed to depute the “ Employee” to undergo specialized training through………………… to harness the skills of the “ Employee” for its productive use in the /for the “ Company”, the said training is highly specialized and may cost the “ Employee” substantially high amount of money in case the Employee has to undergo this training at his own cost.
AND WHEREAS the Employee has accepted the offer for training subject to such conditions as specified.
AND WHEREAS the Surety has agreed to guarantee the due performance/ discharge to the obligation of the Employee and in default/ breach of such conditions indemnify the Company on demand, such amount of money as detailed hereinafter due to the non-performance/ breach of this contract/ such breach of employment condition for which the “ Employee” is responsible.
NOW THIS DEED WITNESSETH AS UNDER:
1. That the “Employee” is desirous of undergoing training or manufacturing of its …………. Products, to be conducted by……………… and the Company agrees to depute the Employee for the training programme/ course, which is for a period of ……………….weeks.
2. That it is specifically agreed and understood that the cost of this training is included in the total package cost paid by the Company as mentioned in the preamble. The Employee has been deputed for this training by virtue of his association and employment with the Company and on his request for the said training and further on his assurance to continue in the services of the Company at least for the minimum assured period of……… years.
3. That the “ Employee” after due completion of the training has to/ and agrees to serve the “ Company” for a period of…….. years from the date of completion of the training, hereinafter referred to as the “ SERVICE PERIOD”. The Employee also agrees that once he joins the said training, he shall complete the training and not to leave the services of the Company in between the training period or after for ……. Year. In the event of breach of any of these conditions for whatsoever reasons the Employee will be liable for damages which may be on a higher side considering direct and indirect cost but are restricted to Rs……………………….. with consent of all parties hereto.
4. That if at any time during the training or post training Employment Period of- Three years from the date of completion of training the “ Employee”, if found guilty for misconduct or any willful neglect of work or dereliction of the duties assigned by the “Company”, from time to time, will be summarily terminated by giving one months` notice and the Employee shall be deemed to have brought about such a situation at his own and will be liable for all losses/ damages so occur by his acts of commission/ omission to the Company and any decision of the Company in this regard shall be final and binding on the Employee.
5. That all inventions, designs, programmed or such other improvements possessed by the trainee during the training period by virtue of the training shall vest with the Company and the Employee will have no right on it of whatsoever nature.
6. That the Surety shall be responsible for the acts/ omissions of the Employee and will indemnify the Company on demand such amount as calculated by the Company on breach of terms of the Agreement by the Employee forming part of this agreement.
7. That this agreement shall subsist throughout the employment period of the Employee and shall not be withdrawn in between without the express permission of the Company.
8. That this agreement shall be construed to be in force irrespective of the variation in the terms, tenure and responsibilities and duties of the Employee.
9. That the Employee and Surety hereby covenant and agree that the loss that will be suffered by the Company on the breach of any of the above mentioned terms of the agreement particularly of premature leaving of services or any such other reason can not be ascertained in terms of money but is a minimum amount calculated to compensate the loss which may accrue by the said breach of conditions by the Employee and t he sum calculated as above is reasonable and just compensation for the loss/ damage that may be caused to the Company and the Surety of Employee shall not raise any objection whatsoever on the computation of the damages.
10. That the Employee and Surety do hereby agree and bound themselves jointly and severally to indemnify and to pay the Company amount of loss as mentioned herein above computed by the Company or on actual loss to be or as calculated by the Company due tom any breach of terms of this agreement or such other acts of omission and commission detrimental to the interest of the Company.
11. That this agreement is executed at……. And ………… High Court alone shall have exclusive jurisdiction in case of any dispute.
12. Having clearly understood the terms and conditions set forth herein above and in witness whereof the parties do hereby affix their signatures on the date mentioned above without any fear, coercion or duress.
Witness 1………………………… Employee: Mr……………………..
Company: M/s……………………..
Witness 2 …………………………. Surety : Mr………………………….
Regards,
Sivadasan
From India, Udaipur
I am giving below the format for training bond. You may use the same by making certain amendments , wherever necessary.
THIS AGREEMENT is made at .(Place) on dated between M/s , a Company registered under the provisions of the Indian Companies Act 1956 having its registered/ Head Office at ., hereinafter referred to as The Company( which expression shall unless repugnant to the context or meaning thereof, means and include its successors and assigns of the FIRST PARTY).
AND
Name- Mr S/o Shri .. Resident of ., hereinafter referred to as The Employee ( which expression unless repugnant to the context or meaning thereof, means and include its successors and assigns of the SECOND PARTY).
AND
Shri . S/o Shri . Resident of ..
Hereinafter referred to as The Surety ( which expression unless repugnant to the context or meaning thereof, means and include its successors and assigns of the THIRD PARTY).
WHEREAS the Employee is in the employment of the Company subject to terms and conditions contained in the Appointment Letter dated .. and Date of Joining: ..
AND WHEREAS the Company has opted for Enterprise Resource Planning Implementation in the Company for enhancing its capability due to the Technical Advancement.
AND WHEREAS for this purpose the Company has opted for a package considered to be the best in India/ in the World which entails/ calls for trained/ specialized persons for manufacturing of its products , to be trained by .. which is an organization of repute.
AND WHEREAS for successful implementation and operation of its manufacturing facilities M/s .. has arranged training for select personnels of this Company.
AND WHEREAS the Company has agreed to depute the Employee to undergo specialized training through to harness the skills of the Employee for its productive use in the /for the Company, the said training is highly specialized and may cost the Employee substantially high amount of money in case the Employee has to undergo this training at his own cost.
AND WHEREAS the Employee has accepted the offer for training subject to such conditions as specified.
AND WHEREAS the Surety has agreed to guarantee the due performance/ discharge to the obligation of the Employee and in default/ breach of such conditions indemnify the Company on demand, such amount of money as detailed hereinafter due to the non-performance/ breach of this contract/ such breach of employment condition for which the Employee is responsible.
NOW THIS DEED WITNESSETH AS UNDER:
1. That the Employee is desirous of undergoing training or manufacturing of its . Products, to be conducted by and the Company agrees to depute the Employee for the training programme/ course, which is for a period of .weeks.
2. That it is specifically agreed and understood that the cost of this training is included in the total package cost paid by the Company as mentioned in the preamble. The Employee has been deputed for this training by virtue of his association and employment with the Company and on his request for the said training and further on his assurance to continue in the services of the Company at least for the minimum assured period of years.
3. That the Employee after due completion of the training has to/ and agrees to serve the Company for a period of .. years from the date of completion of the training, hereinafter referred to as the SERVICE PERIOD. The Employee also agrees that once he joins the said training, he shall complete the training and not to leave the services of the Company in between the training period or after for . Year. In the event of breach of any of these conditions for whatsoever reasons the Employee will be liable for damages which may be on a higher side considering direct and indirect cost but are restricted to Rs .. with consent of all parties hereto.
4. That if at any time during the training or post training Employment Period of- Three years from the date of completion of training the Employee, if found guilty for misconduct or any willful neglect of work or dereliction of the duties assigned by the Company, from time to time, will be summarily terminated by giving one months` notice and the Employee shall be deemed to have brought about such a situation at his own and will be liable for all losses/ damages so occur by his acts of commission/ omission to the Company and any decision of the Company in this regard shall be final and binding on the Employee.
5. That all inventions, designs, programmed or such other improvements possessed by the trainee during the training period by virtue of the training shall vest with the Company and the Employee will have no right on it of whatsoever nature.
6. That the Surety shall be responsible for the acts/ omissions of the Employee and will indemnify the Company on demand such amount as calculated by the Company on breach of terms of the Agreement by the Employee forming part of this agreement.
7. That this agreement shall subsist throughout the employment period of the Employee and shall not be withdrawn in between without the express permission of the Company.
8. That this agreement shall be construed to be in force irrespective of the variation in the terms, tenure and responsibilities and duties of the Employee.
9. That the Employee and Surety hereby covenant and agree that the loss that will be suffered by the Company on the breach of any of the above mentioned terms of the agreement particularly of premature leaving of services or any such other reason can not be ascertained in terms of money but is a minimum amount calculated to compensate the loss which may accrue by the said breach of conditions by the Employee and t he sum calculated as above is reasonable and just compensation for the loss/ damage that may be caused to the Company and the Surety of Employee shall not raise any objection whatsoever on the computation of the damages.
10. That the Employee and Surety do hereby agree and bound themselves jointly and severally to indemnify and to pay the Company amount of loss as mentioned herein above computed by the Company or on actual loss to be or as calculated by the Company due tom any breach of terms of this agreement or such other acts of omission and commission detrimental to the interest of the Company.
11. That this agreement is executed at . And High Court alone shall have exclusive jurisdiction in case of any dispute.
12. Having clearly understood the terms and conditions set forth herein above and in witness whereof the parties do hereby affix their signatures on the date mentioned above without any fear, coercion or duress.
Witness 1 Employee: Mr ..
Company: M/s ..
Witness 2 . Surety : Mr .
Regards,
Sivadasan
From India, Udaipur
AGREEMENT
THIS AGREEMENT is made at .(Place) on dated between M/s , a Company registered under the provisions of the Indian Companies Act 1956 having its registered/ Head Office at ., hereinafter referred to as The Company( which expression shall unless repugnant to the context or meaning thereof, means and include its successors and assigns of the FIRST PARTY).
AND
Name- Mr S/o Shri .. Resident of ., hereinafter referred to as The Employee ( which expression unless repugnant to the context or meaning thereof, means and include its successors and assigns of the SECOND PARTY).
AND
Shri . S/o Shri . Resident of ..
Hereinafter referred to as The Surety ( which expression unless repugnant to the context or meaning thereof, means and include its successors and assigns of the THIRD PARTY).
WHEREAS the Employee is in the employment of the Company subject to terms and conditions contained in the Appointment Letter dated .. and Date of Joining: ..
AND WHEREAS the Company has opted for Enterprise Resource Planning Implementation in the Company for enhancing its capability due to the Technical Advancement.
AND WHEREAS for this purpose the Company has opted for a package considered to be the best in India/ in the World which entails/ calls for trained/ specialized persons for manufacturing of its products , to be trained by .. which is an organization of repute.
AND WHEREAS for successful implementation and operation of its manufacturing facilities M/s .. has arranged training for select personnels of this Company.
AND WHEREAS the Company has agreed to depute the Employee to undergo specialized training through to harness the skills of the Employee for its productive use in the /for the Company, the said training is highly specialized and may cost the Employee substantially high amount of money in case the Employee has to undergo this training at his own cost.
AND WHEREAS the Employee has accepted the offer for training subject to such conditions as specified.
AND WHEREAS the Surety has agreed to guarantee the due performance/ discharge to the obligation of the Employee and in default/ breach of such conditions indemnify the Company on demand, such amount of money as detailed hereinafter due to the non-performance/ breach of this contract/ such breach of employment condition for which the Employee is responsible.
NOW THIS DEED WITNESSETH AS UNDER:
1. That the Employee is desirous of undergoing training or manufacturing of its . Products, to be conducted by and the Company agrees to depute the Employee for the training programme/ course, which is for a period of .weeks.
2. That it is specifically agreed and understood that the cost of this training is included in the total package cost paid by the Company as mentioned in the preamble. The Employee has been deputed for this training by virtue of his association and employment with the Company and on his request for the said training and further on his assurance to continue in the services of the Company at least for the minimum assured period of years.
3. That the Employee after due completion of the training has to/ and agrees to serve the Company for a period of .. years from the date of completion of the training, hereinafter referred to as the SERVICE PERIOD. The Employee also agrees that once he joins the said training, he shall complete the training and not to leave the services of the Company in between the training period or after for . Year. In the event of breach of any of these conditions for whatsoever reasons the Employee will be liable for damages which may be on a higher side considering direct and indirect cost but are restricted to Rs .. with consent of all parties hereto.
4. That if at any time during the training or post training Employment Period of- Three years from the date of completion of training the Employee, if found guilty for misconduct or any willful neglect of work or dereliction of the duties assigned by the Company, from time to time, will be summarily terminated by giving one months` notice and the Employee shall be deemed to have brought about such a situation at his own and will be liable for all losses/ damages so occur by his acts of commission/ omission to the Company and any decision of the Company in this regard shall be final and binding on the Employee.
5. That all inventions, designs, programmed or such other improvements possessed by the trainee during the training period by virtue of the training shall vest with the Company and the Employee will have no right on it of whatsoever nature.
6. That the Surety shall be responsible for the acts/ omissions of the Employee and will indemnify the Company on demand such amount as calculated by the Company on breach of terms of the Agreement by the Employee forming part of this agreement.
7. That this agreement shall subsist throughout the employment period of the Employee and shall not be withdrawn in between without the express permission of the Company.
8. That this agreement shall be construed to be in force irrespective of the variation in the terms, tenure and responsibilities and duties of the Employee.
9. That the Employee and Surety hereby covenant and agree that the loss that will be suffered by the Company on the breach of any of the above mentioned terms of the agreement particularly of premature leaving of services or any such other reason can not be ascertained in terms of money but is a minimum amount calculated to compensate the loss which may accrue by the said breach of conditions by the Employee and t he sum calculated as above is reasonable and just compensation for the loss/ damage that may be caused to the Company and the Surety of Employee shall not raise any objection whatsoever on the computation of the damages.
10. That the Employee and Surety do hereby agree and bound themselves jointly and severally to indemnify and to pay the Company amount of loss as mentioned herein above computed by the Company or on actual loss to be or as calculated by the Company due tom any breach of terms of this agreement or such other acts of omission and commission detrimental to the interest of the Company.
11. That this agreement is executed at . And High Court alone shall have exclusive jurisdiction in case of any dispute.
12. Having clearly understood the terms and conditions set forth herein above and in witness whereof the parties do hereby affix their signatures on the date mentioned above without any fear, coercion or duress.
Witness 1 Employee: Mr ..
Company: M/s ..
Witness 2 . Surety : Mr .
Regards,
Sivadasan
From India, Udaipur
iam not sure but the thing is no bond will be having legal compliences cause it is the right of that particular candidate to stay or not with the company after his training
From India, Hyderabad
From India, Hyderabad
Thanks a ton all of your for your quick response.
I also discussed with few.Bonds in India are not legally enfoceable be it employment bond or training bond.
But I believe atleast we can have an undertaking from the employee for forfeiting the amount spent by company in case they leave before some specific tenure. Whats your view?
Regards
Verma HR
From India, Gurgaon
I also discussed with few.Bonds in India are not legally enfoceable be it employment bond or training bond.
But I believe atleast we can have an undertaking from the employee for forfeiting the amount spent by company in case they leave before some specific tenure. Whats your view?
Regards
Verma HR
From India, Gurgaon
Is Training Bond legal in India? Can a company/consultancy file a case against employee for Bond? Waiting for your responses — Group members Thanks & Regards, Chintan K Doshi
From India, Bangalore
From India, Bangalore
Dear Verma
There is nothing like training bond. If you are sending an employe abroad for training then all these clauses should be a part of the appointment letter.
In any case why worry about the employee leaving. If your company's culture is very strong he is bound to stay. Rather than working on the training bond work to make the company culture strong.
Regards
Sonali
From India, Thana
There is nothing like training bond. If you are sending an employe abroad for training then all these clauses should be a part of the appointment letter.
In any case why worry about the employee leaving. If your company's culture is very strong he is bound to stay. Rather than working on the training bond work to make the company culture strong.
Regards
Sonali
From India, Thana
Hi Sujal_03
Regarding your statement;
"In any case why worry about the employee leaving. If your company's culture is very strong he is bound to stay. Rather than working on the training bond work to make the company culture strong."
I am a foreign national who's been living, and working in India since 2007 - specifically in the field of Technology. While consulting multiple companies within this field I have consistently seen that specifically "freshers" are problematic. In this industry, training takes between 3 to 6 months before anyone can be "productive". So, invariably, the freshers do the training and then disappear after the company has invested up to 6 months of time, money, and energy into giving them the knowledge required to actually do something.
I also notice that other companies, for example Punjab National Bank have every single employee sign a "Bond", and have been privy to them also executing the bond and taking 2Lakh+ from errant employees who decide (usually for some financial reason) to "switch banks". I've also seen companies like Google extract large sums of money from employees who do the same.
So, the question is this: If Punjab National Bank can do it... are they doing this activity illegally? If Google can pursue people for it then are they doing that "illegally"? Lots of people here are stating that a "bond" either for training or any other reason is "illegal". If it is they how can companies like the above get away with doing it then? Unless of course, it's actually a "legal" practice in some way, shape, or form.
From India, Kolkata
Regarding your statement;
"In any case why worry about the employee leaving. If your company's culture is very strong he is bound to stay. Rather than working on the training bond work to make the company culture strong."
I am a foreign national who's been living, and working in India since 2007 - specifically in the field of Technology. While consulting multiple companies within this field I have consistently seen that specifically "freshers" are problematic. In this industry, training takes between 3 to 6 months before anyone can be "productive". So, invariably, the freshers do the training and then disappear after the company has invested up to 6 months of time, money, and energy into giving them the knowledge required to actually do something.
I also notice that other companies, for example Punjab National Bank have every single employee sign a "Bond", and have been privy to them also executing the bond and taking 2Lakh+ from errant employees who decide (usually for some financial reason) to "switch banks". I've also seen companies like Google extract large sums of money from employees who do the same.
So, the question is this: If Punjab National Bank can do it... are they doing this activity illegally? If Google can pursue people for it then are they doing that "illegally"? Lots of people here are stating that a "bond" either for training or any other reason is "illegal". If it is they how can companies like the above get away with doing it then? Unless of course, it's actually a "legal" practice in some way, shape, or form.
From India, Kolkata
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Bond letter.doc