Hi all,
Could you please let me know what are the legal pre-requisites for a bond?
In my case, I was provided with an LOI with a para binding me for one year after completion of training, failing which I would be required to pay the cost of training. Now, no amount of taining cost estimate was provided. It was a mere para in the LOI.
Is this legally valid? Or a bond necessarily has to be on a stamp paper of minimum duration etc?
Please let me have your legal views.
From India, Mumbai
Could you please let me know what are the legal pre-requisites for a bond?
In my case, I was provided with an LOI with a para binding me for one year after completion of training, failing which I would be required to pay the cost of training. Now, no amount of taining cost estimate was provided. It was a mere para in the LOI.
Is this legally valid? Or a bond necessarily has to be on a stamp paper of minimum duration etc?
Please let me have your legal views.
From India, Mumbai
Bond is not legally enforceable...."Right to Work" is a fundamental right of every Indian guaranteed by the Constitution of India...and "Right to Work" also includes "Right not to Work"...hence no one can force you to work....
However, organisations have the right to recover reasonable training cost, as per your offer of employment. If the amount is not mentioned, in ur LoI...please ensure that the same in mentioned in the Contract of Employment....
It is not mandatory to have a contract of employment on Stamp Paper...
Hope this clarifies!
However, organisations have the right to recover reasonable training cost, as per your offer of employment. If the amount is not mentioned, in ur LoI...please ensure that the same in mentioned in the Contract of Employment....
It is not mandatory to have a contract of employment on Stamp Paper...
Hope this clarifies!
Dear
Based on your post, a Bond is a promise to pay a certain fxed and determined amount. If the amount is not stated then it is no bond.If it is part of LOI for an unspecified sum, your Employer may have problems for adopting an unfair labour practice.Take specialist advice.
With Regards
V.Sounder Rajan
VS Rajan Associates,
Advocates & Notaries,
No.27, Ist Floor, Singapore Plaza,
No.164, Linghi Chetty Street,
Chennai - 600 001.
E-mail :
Off : 044-42620864, 044-65874684,
Mobile : 98401 42164.
From India, Madras
6Based on your post, a Bond is a promise to pay a certain fxed and determined amount. If the amount is not stated then it is no bond.If it is part of LOI for an unspecified sum, your Employer may have problems for adopting an unfair labour practice.Take specialist advice.
With Regards
V.Sounder Rajan
VS Rajan Associates,
Advocates & Notaries,
No.27, Ist Floor, Singapore Plaza,
No.164, Linghi Chetty Street,
Chennai - 600 001.
E-mail :
Off : 044-42620864, 044-65874684,
Mobile : 98401 42164.
From India, Madras
Mr.Rajan,
i would like to ask you this that our comapny is a software company.our purpose of getting bond signed by employee is to make them awake that no official information should get leaked as we are into software development.training cost is very less on them but informaton leak can harm us in many ways.
what shud we do?and should i call this as employment bond or service agreement and what should be the format?pls forward
From India, Chandigarh
i would like to ask you this that our comapny is a software company.our purpose of getting bond signed by employee is to make them awake that no official information should get leaked as we are into software development.training cost is very less on them but informaton leak can harm us in many ways.
what shud we do?and should i call this as employment bond or service agreement and what should be the format?pls forward
From India, Chandigarh
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