hello,
I am working as HR Manager in one of the IT company in pune.
Its a Mid level IT company having 30 employees only.
I want to have details like if suppose we make the Bond with any employee & he breaks it then wh action HR need to take?
Wh is the requirement to make the bond do it require to be on bond paper or simply letter head will do?
Though we have mention many closes like you need to pay bla bla amount if you breaks the bond employees use to break it.
Till the date i haven't handle any case like this but if in future this type of situation come then i want to prepare my self for that.
Pls help me on this.
If some one is already having any specified processes for this then pls do share it with me that ll be really great.
Expecting kind reply from you all.
Even U can reach me on
Regards,
Harshada
From India, Pune
I am working as HR Manager in one of the IT company in pune.
Its a Mid level IT company having 30 employees only.
I want to have details like if suppose we make the Bond with any employee & he breaks it then wh action HR need to take?
Wh is the requirement to make the bond do it require to be on bond paper or simply letter head will do?
Though we have mention many closes like you need to pay bla bla amount if you breaks the bond employees use to break it.
Till the date i haven't handle any case like this but if in future this type of situation come then i want to prepare my self for that.
Pls help me on this.
If some one is already having any specified processes for this then pls do share it with me that ll be really great.
Expecting kind reply from you all.
Even U can reach me on
Regards,
Harshada
From India, Pune
Harshada,
Usually the service agreements are made in line with the amount you want to recover in case of employee leaving the company before the expected date. In that case, the agreement / amount should be in line with the stamp act in India.
Ensure that there are graenteers are available and they sign. Should be an earning member or the family or relative and their proof of work to be provided.
Some companies have tied up with the banks ie., the employee gives the bank grauntee and he leaves, the bank will recover the damages from him and the company will be paid by the bank.
Hope this helps !
From India
1Usually the service agreements are made in line with the amount you want to recover in case of employee leaving the company before the expected date. In that case, the agreement / amount should be in line with the stamp act in India.
Ensure that there are graenteers are available and they sign. Should be an earning member or the family or relative and their proof of work to be provided.
Some companies have tied up with the banks ie., the employee gives the bank grauntee and he leaves, the bank will recover the damages from him and the company will be paid by the bank.
Hope this helps !
From India
Hi,
Thank a lot.
But still i have some query, see ganraly small companies not having this kind of processes.i have worked in all small scale companies only where we were not having any processes & as i am not aware of it i am not able to inmpliment it.
So if possible brief me little bit more then might be my concept ll get clear.
Thanks a lot fr the info.
Regards,
harshada
From India, Pune
Thank a lot.
But still i have some query, see ganraly small companies not having this kind of processes.i have worked in all small scale companies only where we were not having any processes & as i am not aware of it i am not able to inmpliment it.
So if possible brief me little bit more then might be my concept ll get clear.
Thanks a lot fr the info.
Regards,
harshada
From India, Pune
hi harshada,
here in this case, u need to take an article of agreement wherein company and employee having an agreement to serve for a minimum of prescribed period. if he fails to do so, he need to pay the compensation to the organisation. That amount should be varies from 1st year,2nd year etc depends upon the company wishes. but that should be on par with the expenditure u spent on the employee during the year.
It should be typed on 100 Rs. non-judicial stamp paper which is available at courts. While submitting this agreement to the company, he/she should have one surety also who is included in this agreement to recover the amount on his/her behalf. The surety should be generally an PSU/Central employee or having Land property. This is for your safe side. Apart from that one person should be witness from the company side ex. from HR or dept head to collect the signature of employee and surety on the agreement along with witness of our behalf.
But normal procedure for recovery is we need to do all the disciplinary formalities against the employee and complete legal enquiry to prove his fault and submit this documents to labour court.
regds.
Y.Gangadhar
here in this case, u need to take an article of agreement wherein company and employee having an agreement to serve for a minimum of prescribed period. if he fails to do so, he need to pay the compensation to the organisation. That amount should be varies from 1st year,2nd year etc depends upon the company wishes. but that should be on par with the expenditure u spent on the employee during the year.
It should be typed on 100 Rs. non-judicial stamp paper which is available at courts. While submitting this agreement to the company, he/she should have one surety also who is included in this agreement to recover the amount on his/her behalf. The surety should be generally an PSU/Central employee or having Land property. This is for your safe side. Apart from that one person should be witness from the company side ex. from HR or dept head to collect the signature of employee and surety on the agreement along with witness of our behalf.
But normal procedure for recovery is we need to do all the disciplinary formalities against the employee and complete legal enquiry to prove his fault and submit this documents to labour court.
regds.
Y.Gangadhar
Hi,
Thanks a lot for the info given.
I am really thankful to you.
It has increased my knowledge & also a way to apply the things in practice.
But again for all this company should have his own lawyer or not caz as being HR person i never went to labor court yet?
And not having the knowledge also @ the process there?
Pls suggest me on this.
Regards,
Harshada
From India, Pune
Thanks a lot for the info given.
I am really thankful to you.
It has increased my knowledge & also a way to apply the things in practice.
But again for all this company should have his own lawyer or not caz as being HR person i never went to labor court yet?
And not having the knowledge also @ the process there?
Pls suggest me on this.
Regards,
Harshada
From India, Pune
hi harshada,
actually every company has one legal adviser who takes care of these service agreement. First u need to prepare artcles of agreement in consultation with your legal adviser.
Generally u need to submit the case to labour office, after completion of all disciplinary steps i.e., advise letter, show cause letter, final show cause letter, finally enquiry letter. After proving of his misconduct, then we need to submit the case to labour dept.
regds.
gangadhar
actually every company has one legal adviser who takes care of these service agreement. First u need to prepare artcles of agreement in consultation with your legal adviser.
Generally u need to submit the case to labour office, after completion of all disciplinary steps i.e., advise letter, show cause letter, final show cause letter, finally enquiry letter. After proving of his misconduct, then we need to submit the case to labour dept.
regds.
gangadhar
Hi,
Ok.
Thanks for your valuable reply.
Due to which i will able to handle the things, in future if something comes to me.
Till the time we do not face the case,its difficult to get the exact idea,but due to this info at least i ll be ready to face it,& solve it with confidence.
Thanks.
Hope in future i ll get the guidance.
Regards,
Harshada
From India, Pune
Ok.
Thanks for your valuable reply.
Due to which i will able to handle the things, in future if something comes to me.
Till the time we do not face the case,its difficult to get the exact idea,but due to this info at least i ll be ready to face it,& solve it with confidence.
Thanks.
Hope in future i ll get the guidance.
Regards,
Harshada
From India, Pune
Hi Friends,
It is really a good topic to be discussed. I have a doubt relating to this point i.e can how can tell me is making a bond with any employee is legally correct and if so specify me according to which law it can be done.....
Members can you clarify me on this...........
Regards
Amith R.
From India, Bangalore
It is really a good topic to be discussed. I have a doubt relating to this point i.e can how can tell me is making a bond with any employee is legally correct and if so specify me according to which law it can be done.....
Members can you clarify me on this...........
Regards
Amith R.
From India, Bangalore
Hi Amith,
As per contract Act, no employer can enforce the candidate to serve the company for a specified period and it is not enforceable also if the agreement is only from one side of the coin.
regds.
Y.Gangadhar
As per contract Act, no employer can enforce the candidate to serve the company for a specified period and it is not enforceable also if the agreement is only from one side of the coin.
regds.
Y.Gangadhar
HI,
I work for a retail firm and we do have contract with few but we term it as retainership agreement.
This is however not done on any stamp paper but is written in the appointment letter where a part of his salary is withheld every month which will be given when his contract lapses.
This is mostly accpeted as it acts a a saving for the employee and the employer is ensured that there wont be a breach in the cotnract.
It is worded in such a manner.
Regards
Karuuna
From India, Mumbai
I work for a retail firm and we do have contract with few but we term it as retainership agreement.
This is however not done on any stamp paper but is written in the appointment letter where a part of his salary is withheld every month which will be given when his contract lapses.
This is mostly accpeted as it acts a a saving for the employee and the employer is ensured that there wont be a breach in the cotnract.
It is worded in such a manner.
Regards
Karuuna
From India, Mumbai
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
Legal Clarification on Absconding Employee, Contract Labour Engagement & Leave Entitlement Ammen.pdf
Employee Appraisal Form new.doc