Dear Harvindar,
Please recollect if you have signed bond both sided means if company has promised you for any expensive training or something else similar improvement programs & you receive the same within two months.
Single sided bond doesn't have any value however you received legal a notice it is batter to consult legal advisory before any action & communication with them.
Loeksh
From Australia
7Please recollect if you have signed bond both sided means if company has promised you for any expensive training or something else similar improvement programs & you receive the same within two months.
Single sided bond doesn't have any value however you received legal a notice it is batter to consult legal advisory before any action & communication with them.
Loeksh
From Australia
Yes, do not underestimate any employer. Spending for their legal consultants, court fees, etc. are peanuts for them. In fact your previous employer seem to be following "Principles of Natural Justice" thereby given you ample opportunities to revert to him for those notices. You conveniently ignored and rather you took it casually and result of which you are facing today.
Who wins who loses in this case is immaterial. My wife's sister's son joined in one of the renowned IT companies, wherein he was asked to sign a three year agreement with the company. He as asked to submit surety, where his father had to submit xerox copy of his pass book, fixed deposit receipts, copy of property document, etc.
Let's not discuss whether it is legal to ask for all these papers. It is their company's policy and you want to be hired or you are keen in joining them, submit those documents, else forget it.
In the same way, you would have agreed and signed the bond? As I told you above, the end result is not their cup of tea. It is the lesson they want to teach you and also send a message across to other potential candidates like this.
Moreover, apart from handling this case, you may have to take leave as and when you are summoned by the court to appear. One or two times, you can apply for leave on "Personal" reasons. But when your current employer come to know that you are involved in legal issue with the previous employer, then he may not be interested in having you there also.
Better be careful.
V. Balaji
From India, Madras
Who wins who loses in this case is immaterial. My wife's sister's son joined in one of the renowned IT companies, wherein he was asked to sign a three year agreement with the company. He as asked to submit surety, where his father had to submit xerox copy of his pass book, fixed deposit receipts, copy of property document, etc.
Let's not discuss whether it is legal to ask for all these papers. It is their company's policy and you want to be hired or you are keen in joining them, submit those documents, else forget it.
In the same way, you would have agreed and signed the bond? As I told you above, the end result is not their cup of tea. It is the lesson they want to teach you and also send a message across to other potential candidates like this.
Moreover, apart from handling this case, you may have to take leave as and when you are summoned by the court to appear. One or two times, you can apply for leave on "Personal" reasons. But when your current employer come to know that you are involved in legal issue with the previous employer, then he may not be interested in having you there also.
Better be careful.
V. Balaji
From India, Madras
I too differ here.The company wants to make an example out of you and deter others who plan to break the bond.
I too acted in the same way by serving notice period to two employees who broke the bond .I tried to do damage control which helped us in the longer period.
FYI bonds don't have much legality ,there are some legal lacuna's in it which ultimately fail in the court of law but the you have to fight out.
You need to seek legal advise and I am sure there is a way out.
From India, Mumbai
I too acted in the same way by serving notice period to two employees who broke the bond .I tried to do damage control which helped us in the longer period.
FYI bonds don't have much legality ,there are some legal lacuna's in it which ultimately fail in the court of law but the you have to fight out.
You need to seek legal advise and I am sure there is a way out.
From India, Mumbai
Hi Harwinder,
One of our collegues went absconding following semilar scenario. He was out station resident & had given father's name as surety.
When compnay could not reach him, they tried to reach his father.
His father took stand that he would register a formal police complaint, that his son was frustrated with work, but could not leave the job due to the bond; & now has gone missing, while he was working at the company in other city.
As much as company wanted to find the person, they did not want to get involved in any such investigation, neither they wanted police in the premises for such enquiry.
They had no legal liabilities with the father, as he was not part of the bond. So, they decided not to persue the matter.
Such bonds have a validity. The person showed up after the validity period of 1 year in that case, & company could not put any legal claims on him.
Any way, This example is not to indicate how you can escape from the responsibility. But there are so many questions about this situation on this forum.
The moral responsibility for such things is may be lies with both parties; but when it is hard to establich the legal responsibility, both parties will try to find sideways.
Anyone with strong moral fiber would not think of such ways; but then you have already started the path 10 months back, when you left the company... :-)
And as in this example, there is nothing wrong to think of alternate ways to gain upper hand in such ambiguity, & save some money and time.
Regards,
Amod.
One of our collegues went absconding following semilar scenario. He was out station resident & had given father's name as surety.
When compnay could not reach him, they tried to reach his father.
His father took stand that he would register a formal police complaint, that his son was frustrated with work, but could not leave the job due to the bond; & now has gone missing, while he was working at the company in other city.
As much as company wanted to find the person, they did not want to get involved in any such investigation, neither they wanted police in the premises for such enquiry.
They had no legal liabilities with the father, as he was not part of the bond. So, they decided not to persue the matter.
Such bonds have a validity. The person showed up after the validity period of 1 year in that case, & company could not put any legal claims on him.
Any way, This example is not to indicate how you can escape from the responsibility. But there are so many questions about this situation on this forum.
The moral responsibility for such things is may be lies with both parties; but when it is hard to establich the legal responsibility, both parties will try to find sideways.
Anyone with strong moral fiber would not think of such ways; but then you have already started the path 10 months back, when you left the company... :-)
And as in this example, there is nothing wrong to think of alternate ways to gain upper hand in such ambiguity, & save some money and time.
Regards,
Amod.
Dear Sir,
Don\'t worry,
I am sure, this bond was only on Rs. 10 or Rs.50 or in Rs.100 only.
It was valid upto 6 months, as you mentioned that they sent you a letter/notice after 10 months, now it is only a piece of paper which has no value.
Secondly, when they (employer) made a bond, they should get it registered and they had to pay stamp duty on Rs. 100000/_ which they didnot do.
So, there is no chance for them of recovering one lakh from you.
So, Don\'t worry, Be happy.
With regards
virender
From India, New Delhi
Don\'t worry,
I am sure, this bond was only on Rs. 10 or Rs.50 or in Rs.100 only.
It was valid upto 6 months, as you mentioned that they sent you a letter/notice after 10 months, now it is only a piece of paper which has no value.
Secondly, when they (employer) made a bond, they should get it registered and they had to pay stamp duty on Rs. 100000/_ which they didnot do.
So, there is no chance for them of recovering one lakh from you.
So, Don\'t worry, Be happy.
With regards
virender
From India, New Delhi
Nopes !!!!
Your assumption is wrong and the way your company handled it is also wrong.
A bond does not lose value simply because the period is over.
When the candidate absconded, the period was on hold. The bond is definately valid.
Further, the company should have taken a surety in a formal manner. If they had taken a later of surety or made the surety a part of the bond it's self, then the father would be hauled up. Few mnc or large company are lax in documentation. Your colleague was just pure lucky on this count.
For the mnc to get the person in trouble is very easy. All they need to do is file an FIR stating he has absconded with company property. And you have had it. His father would have had to give all details and also pay heavily to the cops (I mean cash) to avoid getting his son arrested.
From India, Mumbai
Your assumption is wrong and the way your company handled it is also wrong.
A bond does not lose value simply because the period is over.
When the candidate absconded, the period was on hold. The bond is definately valid.
Further, the company should have taken a surety in a formal manner. If they had taken a later of surety or made the surety a part of the bond it's self, then the father would be hauled up. Few mnc or large company are lax in documentation. Your colleague was just pure lucky on this count.
For the mnc to get the person in trouble is very easy. All they need to do is file an FIR stating he has absconded with company property. And you have had it. His father would have had to give all details and also pay heavily to the cops (I mean cash) to avoid getting his son arrested.
From India, Mumbai
Wow !!
Who has been giving you such information ?
Please do not misguide people with half baked information.
A bond needs to be on a rs. 100 stamp paper only
In case it had an indemnity clause, it would need a rs. 500 stamp paper.
(this is in mumbai, some states may have a slightly different stamp rates)
There is no need to register an agreement or a bond. Registration is required for only a few monitored, like property agreements.
And definately whoever told you they need to put a rs. 1 lakh stamp paper for a rs. 1 lakh bond or even a rs. 10 lakhs bond is a person who you need to avoid taking advice from. Stamp duty is rarely going to be over 0.5% of value.
The validity of the stamp paper being of 6 months means the agreement must be SIGNED within 6 months of obtaining the stamp paper, it does not affect the validity period ofnthe agreement signed. How else do you think people sign long term agreements if document validity did not exceed 6 months !
From India, Mumbai
Who has been giving you such information ?
Please do not misguide people with half baked information.
A bond needs to be on a rs. 100 stamp paper only
In case it had an indemnity clause, it would need a rs. 500 stamp paper.
(this is in mumbai, some states may have a slightly different stamp rates)
There is no need to register an agreement or a bond. Registration is required for only a few monitored, like property agreements.
And definately whoever told you they need to put a rs. 1 lakh stamp paper for a rs. 1 lakh bond or even a rs. 10 lakhs bond is a person who you need to avoid taking advice from. Stamp duty is rarely going to be over 0.5% of value.
The validity of the stamp paper being of 6 months means the agreement must be SIGNED within 6 months of obtaining the stamp paper, it does not affect the validity period ofnthe agreement signed. How else do you think people sign long term agreements if document validity did not exceed 6 months !
From India, Mumbai
Hi All,
I wanted to site an example where implication of bond signing and organisation taking action against violation of employment norms.
In military services they take bond signed in their formats from the prospective employees but on the other hand they fullfill what ever is committed to the employees at the time of recruitment.One most important point is that Ihave even witnessed they they explain each clause of the service term and the bond term one by one to all the selceted recruits and even ask the prospective employees if they understood the terms or not.Looking at the system followed in military services,it is not only unlawful on part of employees to break the bond and it is also equally true that services provide every bit of benifit and compensation to it employees with out fail.Under such circumstances how one will dare to leave the job.Secondly,if any employee dare to abscond/or leave with out following the service norms,why shouldn't the services take action against such employees.
I Feel, people think that merely the organisations are private concerns,they take it for granted.Educated lots especially HR in industry must take initiative to improve on both ends namely employees as well as employers.
Thanks and warm regards
BIJAY
From India, Vadodara
I wanted to site an example where implication of bond signing and organisation taking action against violation of employment norms.
In military services they take bond signed in their formats from the prospective employees but on the other hand they fullfill what ever is committed to the employees at the time of recruitment.One most important point is that Ihave even witnessed they they explain each clause of the service term and the bond term one by one to all the selceted recruits and even ask the prospective employees if they understood the terms or not.Looking at the system followed in military services,it is not only unlawful on part of employees to break the bond and it is also equally true that services provide every bit of benifit and compensation to it employees with out fail.Under such circumstances how one will dare to leave the job.Secondly,if any employee dare to abscond/or leave with out following the service norms,why shouldn't the services take action against such employees.
I Feel, people think that merely the organisations are private concerns,they take it for granted.Educated lots especially HR in industry must take initiative to improve on both ends namely employees as well as employers.
Thanks and warm regards
BIJAY
From India, Vadodara
Hi,
Any Bonds of employer employee nature are not valid in India, specially in private companies. Companies make one sign a bond to make the person committed to his stand , however are not legally valid. (the company may try other tactics like false allegations which you will have to defend, may not give you a relieving letter and experience letter.)
As per Indian Law you cannot curtail an individual growth and bond just does that, so no big companies have ever won any case against the employee, but there are some who get scared and pay the due.
Mr. Bijay it is true what you said that legal action can be taken against a person in defense and Government organization, if he or she breaks the bond, as this organization is considered to be crucial for the running of the Government and also for the safeguard of the country. But same law can't be applied for private companies, as they are purely profit based and unlike government organization they don't take care of the employee even after retirement.
Regards
Anita
From India, Mumbai
Any Bonds of employer employee nature are not valid in India, specially in private companies. Companies make one sign a bond to make the person committed to his stand , however are not legally valid. (the company may try other tactics like false allegations which you will have to defend, may not give you a relieving letter and experience letter.)
As per Indian Law you cannot curtail an individual growth and bond just does that, so no big companies have ever won any case against the employee, but there are some who get scared and pay the due.
Mr. Bijay it is true what you said that legal action can be taken against a person in defense and Government organization, if he or she breaks the bond, as this organization is considered to be crucial for the running of the Government and also for the safeguard of the country. But same law can't be applied for private companies, as they are purely profit based and unlike government organization they don't take care of the employee even after retirement.
Regards
Anita
From India, Mumbai
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