Respected People,
I have been offered a job in Oil & Gas Service Company as a 'Trainee'. The BOND of Service is given.
I HAVE NOT SIGNED BOND YET... So I need advice from you.
According to this bond, I will have to work with this small company for long time at a negligible pay for 4 years with Bond amount as Heavy as 5 Lacs. I dont have any Option than joining it.. So, What precautions I should take before signing this bond?
BOND OF SERVICE
I, Mr. Candidate’s Name S/o Father Name R/o Residence Address
__________________________________________________ _____________________________
appointed as Designation on LOA hereinafter called “the Executor”, which expression includes
my heirs, executors and administrators and assigns) in favour of Shiv-Vani Oil & Gas Exploration
Services Ltd., having its registered office at Tower 1, 5th Floor, NBCC Plaza, Sector – V, Pushp
Vihar, Saket, New Delhi 110 017, and having offices/detachments in different parts of the
From India, Chandigarh
I have been offered a job in Oil & Gas Service Company as a 'Trainee'. The BOND of Service is given.
I HAVE NOT SIGNED BOND YET... So I need advice from you.
According to this bond, I will have to work with this small company for long time at a negligible pay for 4 years with Bond amount as Heavy as 5 Lacs. I dont have any Option than joining it.. So, What precautions I should take before signing this bond?
BOND OF SERVICE
I, Mr. Candidate’s Name S/o Father Name R/o Residence Address
__________________________________________________ _____________________________
appointed as Designation on LOA hereinafter called “the Executor”, which expression includes
my heirs, executors and administrators and assigns) in favour of Shiv-Vani Oil & Gas Exploration
Services Ltd., having its registered office at Tower 1, 5th Floor, NBCC Plaza, Sector – V, Pushp
Vihar, Saket, New Delhi 110 017, and having offices/detachments in different parts of the
From India, Chandigarh
Being an active lawyer for the past 22 years, I can tell you that no company can hold an employee to work against their will in this country. Having that said, if a company bears some expenses for your training/visa, etc, you are required to pay the amount to break even incase you depart before your time period.
You have the right to obtain an itemized list of expenses incurred during your training period. This is usually always lesser than the bond amount. If the company denies you list and your relieving letter--You can take them to court.
We recently worked on a case involving an employee having a 2 lakh 2 year bond with L&T. L&T refused to give a relieving letter to the employee after 1 year of service. After the employee asked for the expenses incurred, L&T instead gave the relieving letter without any fuss.
I would request all employees who would like to break their bonds to not pay the bond amount but ask for the exact expenses incurred by the company and pay that amount to get the relieving letter.
So dont worry. Go ahead and sign the bond. When it comes to resigning just make sure you pay all the expenses(like trainng) incurred by the company(apart from salary).
Regards
Dr. TSG
From India, Madras
You have the right to obtain an itemized list of expenses incurred during your training period. This is usually always lesser than the bond amount. If the company denies you list and your relieving letter--You can take them to court.
We recently worked on a case involving an employee having a 2 lakh 2 year bond with L&T. L&T refused to give a relieving letter to the employee after 1 year of service. After the employee asked for the expenses incurred, L&T instead gave the relieving letter without any fuss.
I would request all employees who would like to break their bonds to not pay the bond amount but ask for the exact expenses incurred by the company and pay that amount to get the relieving letter.
So dont worry. Go ahead and sign the bond. When it comes to resigning just make sure you pay all the expenses(like trainng) incurred by the company(apart from salary).
Regards
Dr. TSG
From India, Madras
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Bond letter.doc