Dear friends,
i want to ask about job bond with company.
one of my friend is need to quit from the company, he has a bond with that company, but he want to brake the bond and ready to pay the said amount to the company.
but now company is saying that he will not accept the money nor release him.
and company give this in writing.
now if my friend quit from company,
1) shall company take any action?
2) what will my friend should do in this situation?
Pls help me urgently
Ranjeet Kulkarni.
From India, Pune
2i want to ask about job bond with company.
one of my friend is need to quit from the company, he has a bond with that company, but he want to brake the bond and ready to pay the said amount to the company.
but now company is saying that he will not accept the money nor release him.
and company give this in writing.
now if my friend quit from company,
1) shall company take any action?
2) what will my friend should do in this situation?
Pls help me urgently
Ranjeet Kulkarni.
From India, Pune
Ranjeet,
When the bond was signed, did the company specify that no breech of contract would be considered.
Is it for only your friend that the comany is not calculating the Notice period or for all the other associates as well the same priciple applies.
Incase there was an instance that people breaked the bond & the company has collected the Notice pay, your friend with no worry can go ahead & join the new company. but if it is the other way roung he will have to stay back since the consequences will be terrible.
Hope Im clear.
Regards
Srilatha
From India, Hyderabad
When the bond was signed, did the company specify that no breech of contract would be considered.
Is it for only your friend that the comany is not calculating the Notice period or for all the other associates as well the same priciple applies.
Incase there was an instance that people breaked the bond & the company has collected the Notice pay, your friend with no worry can go ahead & join the new company. but if it is the other way roung he will have to stay back since the consequences will be terrible.
Hope Im clear.
Regards
Srilatha
From India, Hyderabad
Hi Ranjit,
As per constitutional Law everybody is having freedom to choose his/her employement, as per Indian Consittuationl Law article 21, 22 an 16 Employee is having freedom to join employer.
However, your friend has made agreement with the company, in it either company break bond with employee then they have to follow the condiion or vis-a-versa. No employee can hold any employee for life time even if he/she sign bond, becasue it is against to constitution of India, it abolish freedom of worker, and promots to salevary. Even we can not indulege animal for the same.
Your friend happily can join other company, just need acceptance signature on resignation, and releiving letter from head.
regards
Virendra
As per constitutional Law everybody is having freedom to choose his/her employement, as per Indian Consittuationl Law article 21, 22 an 16 Employee is having freedom to join employer.
However, your friend has made agreement with the company, in it either company break bond with employee then they have to follow the condiion or vis-a-versa. No employee can hold any employee for life time even if he/she sign bond, becasue it is against to constitution of India, it abolish freedom of worker, and promots to salevary. Even we can not indulege animal for the same.
Your friend happily can join other company, just need acceptance signature on resignation, and releiving letter from head.
regards
Virendra
dear ranjeet,
A service bond as a mere retention tool does not stand good in law. A bond is valid if the employer spends or invests on the employee for the like amount. The bond amount is also subject to prove the stand that your employer has spent the amount on your training and making you resourceful and that before the time you asked for exit thereby causing the employer the loss on the project that you are deputed on.
Also no contract can be forever, it is supposed to be time bound.
also all bond have an amount assigned and you can be surely leave if u pay the amount. the company cant hold u after u pay.
many cases like your friends are put up at the site listed below: refer to them before taking any decision.
http://en.allexperts.com/q/Indian-Law-1798/
From India, Mumbai
A service bond as a mere retention tool does not stand good in law. A bond is valid if the employer spends or invests on the employee for the like amount. The bond amount is also subject to prove the stand that your employer has spent the amount on your training and making you resourceful and that before the time you asked for exit thereby causing the employer the loss on the project that you are deputed on.
Also no contract can be forever, it is supposed to be time bound.
also all bond have an amount assigned and you can be surely leave if u pay the amount. the company cant hold u after u pay.
many cases like your friends are put up at the site listed below: refer to them before taking any decision.
http://en.allexperts.com/q/Indian-Law-1798/
From India, Mumbai
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Bond letter.doc