Dear All
There are lot of posts on breaking the Bond and Service Bond .
Freshers who join the Corporates need not hesitate to sign a genuine Training Bond after seeing the amount provided the Corporate is genuinely going to provide Training by sending the person overseas and not within the Country.The legality is questionable if it is just a sham document when no real training by sending the person overseas is done .
Therefore exercise of caution before signing is advised rather than to regret later and seek to escape from its clutches.For the Employer it is a tool to retain talent and for the employee a real "hand -cuff".
With Regards
Mobile : 9025792684.
From India, Bangalore
50There are lot of posts on breaking the Bond and Service Bond .
Freshers who join the Corporates need not hesitate to sign a genuine Training Bond after seeing the amount provided the Corporate is genuinely going to provide Training by sending the person overseas and not within the Country.The legality is questionable if it is just a sham document when no real training by sending the person overseas is done .
Service Bond is a tricky thing as it can be construed as an unlawful infringement of the Freedom to practice any profession or to carry on any occupation, trade or business guaranteed under the Constitution of India .The legality is questionable .
Therefore exercise of caution before signing is advised rather than to regret later and seek to escape from its clutches.For the Employer it is a tool to retain talent and for the employee a real "hand -cuff".
With Regards
Mobile : 9025792684.
From India, Bangalore
Dear Friends
I hv signed a bond agreement for 3 yrs with a Ltd Co now I hv left it now the Co wants to File a case against me . Now my question is that whether the Co can suceed against me or not????
My Contract Terms
1. For 3 yrs Employment
2.Payment of Compensation of Rs 50000 if broken within 1 yr
3 The Bond Agreement is signed on A4 size computer paper with no Stamp Paper , whether Judicial or Non-Judicial
4 Witness was the Employee of another Co but under same management ( they r the Co people )
5. The agreement shows my two position as a) APPOINMENT ON RETAINERSHIP BASIS AS ACCOUNTS MANAGER b) AGREEMENT AS A EMPLOYEE . Now how can I be a RETAINER & EMPLOYER at the same time.
6 Company has kept security deposit of Rs 18000.00 my first month salary , again they have not paid me my last months ( March ) salary in summary only One cheque has been issued by them in my account after deducting TDS of 10 % as a professional but without any Bonus , Gratuity , Leave , Medical Compensation etc nothing has been mentioned on my Agreement
7.The Contract is one sided with Co benefits compared to me it only speaks only of Rs 18000 salary .
8 The Co used to transfer me to different units for working under different co with No relation to Co in which I have been appointed.
9. Lastly the Co has not trained me I m well experienced and infact they r using my experience to accomplish their objectives , so how can they r demading Compensation from me
Friends I think Bonds are not legal in INDIAN COURTS , under Article 19 of Constitution and Under 27 of Indian Contract Act
PLEASE HELP
SAIBAL
From India, Guwahati
I hv signed a bond agreement for 3 yrs with a Ltd Co now I hv left it now the Co wants to File a case against me . Now my question is that whether the Co can suceed against me or not????
My Contract Terms
1. For 3 yrs Employment
2.Payment of Compensation of Rs 50000 if broken within 1 yr
3 The Bond Agreement is signed on A4 size computer paper with no Stamp Paper , whether Judicial or Non-Judicial
4 Witness was the Employee of another Co but under same management ( they r the Co people )
5. The agreement shows my two position as a) APPOINMENT ON RETAINERSHIP BASIS AS ACCOUNTS MANAGER b) AGREEMENT AS A EMPLOYEE . Now how can I be a RETAINER & EMPLOYER at the same time.
6 Company has kept security deposit of Rs 18000.00 my first month salary , again they have not paid me my last months ( March ) salary in summary only One cheque has been issued by them in my account after deducting TDS of 10 % as a professional but without any Bonus , Gratuity , Leave , Medical Compensation etc nothing has been mentioned on my Agreement
7.The Contract is one sided with Co benefits compared to me it only speaks only of Rs 18000 salary .
8 The Co used to transfer me to different units for working under different co with No relation to Co in which I have been appointed.
9. Lastly the Co has not trained me I m well experienced and infact they r using my experience to accomplish their objectives , so how can they r demading Compensation from me
Friends I think Bonds are not legal in INDIAN COURTS , under Article 19 of Constitution and Under 27 of Indian Contract Act
PLEASE HELP
SAIBAL
From India, Guwahati
Dear Friends
I hv signed a bond agreement for 3 yrs with a Ltd Co now I hv left it now the Co wants to File a case against me . Now my question is that whether the Co can suceed against me or not????
My Contract Terms
1. For 3 yrs Employment
2.Payment of Compensation of Rs 50000 if broken within 1 yr
3 The Bond Agreement is signed on A4 size computer paper with no Stamp Paper , whether Judicial or Non-Judicial
4 Witness was the Employee of another Co but under same management ( they r the Co people )
5. The agreement shows my two position as a) APPOINMENT ON RETAINERSHIP BASIS AS ACCOUNTS MANAGER b) AGREEMENT AS A EMPLOYEE . Now how can I be a RETAINER & EMPLOYER at the same time.
6 Company has kept security deposit of Rs 18000.00 my first month salary , again they have not paid me my last months ( March ) salary in summary only One cheque has been issued by them in my account after deducting TDS of 10 % as a professional but without any Bonus , Gratuity , Leave , Medical Compensation etc nothing has been mentioned on my Agreement
7.The Contract is one sided with Co benefits compared to me it only speaks only of Rs 18000 salary .
8 The Co used to transfer me to different units for working under different co with No relation to Co in which I have been appointed.
9. Lastly the Co has not trained me I m well experienced and infact they r using my experience to accomplish their objectives , so how can they r demading Compensation from me
Friends I think Bonds are not legal in INDIAN COURTS , under Article 19 of Constitution and Under 27 of Indian Contract Act
PLEASE HELP
SAIBAL
From India, Guwahati
I hv signed a bond agreement for 3 yrs with a Ltd Co now I hv left it now the Co wants to File a case against me . Now my question is that whether the Co can suceed against me or not????
My Contract Terms
1. For 3 yrs Employment
2.Payment of Compensation of Rs 50000 if broken within 1 yr
3 The Bond Agreement is signed on A4 size computer paper with no Stamp Paper , whether Judicial or Non-Judicial
4 Witness was the Employee of another Co but under same management ( they r the Co people )
5. The agreement shows my two position as a) APPOINMENT ON RETAINERSHIP BASIS AS ACCOUNTS MANAGER b) AGREEMENT AS A EMPLOYEE . Now how can I be a RETAINER & EMPLOYER at the same time.
6 Company has kept security deposit of Rs 18000.00 my first month salary , again they have not paid me my last months ( March ) salary in summary only One cheque has been issued by them in my account after deducting TDS of 10 % as a professional but without any Bonus , Gratuity , Leave , Medical Compensation etc nothing has been mentioned on my Agreement
7.The Contract is one sided with Co benefits compared to me it only speaks only of Rs 18000 salary .
8 The Co used to transfer me to different units for working under different co with No relation to Co in which I have been appointed.
9. Lastly the Co has not trained me I m well experienced and infact they r using my experience to accomplish their objectives , so how can they r demading Compensation from me
Friends I think Bonds are not legal in INDIAN COURTS , under Article 19 of Constitution and Under 27 of Indian Contract Act
PLEASE HELP
SAIBAL
From India, Guwahati
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