My company is asking me to sign a bond of 2 years with them. My probation period of 6 months is about to end and now they are asking this (although nothing related to bond was mentioned in the joining letter or anywhere when I joined the company 6 months ago). I just want to know, can a company ask this at this point of time? Is it legal/ethical?
From India, Kolkata
2From India, Kolkata
Legality of employment bond insisted on by employer depends upon various factors like the nature and position of the job, duration of the bond period, the length of time and the amount of money invested by the employer to impart training, if any of to the employee, the amount of liquidated damages for breach of the bond etc.
However, since no execution of such bond was mentioned in the offer of the poster, it is for the poster to accept it or decline it in which case the employer may simply terminate his service as he happens to be a probationer.
From India, Salem
However, since no execution of such bond was mentioned in the offer of the poster, it is for the poster to accept it or decline it in which case the employer may simply terminate his service as he happens to be a probationer.
From India, Salem
Thanks a lot for your response.
May I please ask you or anyone going thro' this thread to share here the relevant clause/acts so that I can gain a good knowledge of this. Also, if you can kindly name the clause/act (and they are available on the internet) I'll be able to study them a little bit.
Thanks in advance.
From India, Kolkata
May I please ask you or anyone going thro' this thread to share here the relevant clause/acts so that I can gain a good knowledge of this. Also, if you can kindly name the clause/act (and they are available on the internet) I'll be able to study them a little bit.
Thanks in advance.
From India, Kolkata
There is nothing wrong on it. This implies that you are going to be confirmed on completion of proation.
You check whether others of your position have furnished bond or not. In many a times management can also adopt a policy to take bond from the employee whom they would recruit. On confirmation of your service a fresh appointment letter can be issued.
It is legal & ethical
From India, Mumbai
You check whether others of your position have furnished bond or not. In many a times management can also adopt a policy to take bond from the employee whom they would recruit. On confirmation of your service a fresh appointment letter can be issued.
It is legal & ethical
From India, Mumbai
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Bond letter.doc