Dear Sir,
I have been working with pharmaceutical company and sign the bond for 5 years with condition if, break of this agreement than i will pay to employer 400,000 Rs/-. stamp paper purchased before 1 year it means 2009 march and we use that stamp paper on march 2010. now employer and his working condition is not ok on human ground , i would like eto quit from there, kindly clarify what is legal status. i will liable to pay 400,000 or not.
Regards,
Rakesh
I have been working with pharmaceutical company and sign the bond for 5 years with condition if, break of this agreement than i will pay to employer 400,000 Rs/-. stamp paper purchased before 1 year it means 2009 march and we use that stamp paper on march 2010. now employer and his working condition is not ok on human ground , i would like eto quit from there, kindly clarify what is legal status. i will liable to pay 400,000 or not.
Regards,
Rakesh
An agreement of bond is illegal and therefore, the agreement made in the stamp paper (which itself is stale because the validity of a stamp paper is six months from its date of issue!!) need not be taken seriously.
Regards,
Madhu.T.K
From India, Kannur
4246Regards,
Madhu.T.K
From India, Kannur
Dear Sir,
In India,There is a act of Bonded Labour abolition.But If a in ters and conditions of your employment whether it is menioned that Company will recurr some expensed over your training then it may be possible that that much of amount which company had incurred upon your training shall be recover from you.
Valildity of Bond is as Madhu sir state exactly.
Mangesh Wakodkar
Aruangabd.
From India, Pune
In India,There is a act of Bonded Labour abolition.But If a in ters and conditions of your employment whether it is menioned that Company will recurr some expensed over your training then it may be possible that that much of amount which company had incurred upon your training shall be recover from you.
Valildity of Bond is as Madhu sir state exactly.
Mangesh Wakodkar
Aruangabd.
From India, Pune
I think non judicial stamp paper has validity for six months, but what about judicial stamp paper. Amol N Dakhole
From India, New Delhi
From India, New Delhi
Dear Sir,
I am Tejas working in Pharmaceutical company. In March 2010 I signed agreement with my employer for 5 years bond period, at that company management promised so many thing and based on that i signed ,which is later become only assurance and never fulfill.
Employer purchased stamp paper for Agreement on MARCH 2009 and we enter/signed agreement in March 2010 , after one year. Now i want to quit this employer and as per bond paper , i suppose to pay 400,000 RS / - if i am not able to finished my 5 years contract. our head office is located in Chennai and they deployed at Africa for company interest.
My question is
can anybody hold any employee , on the name of bond paper and finish his entire career.
Bond paper is 1 year old at the time of agreement , is it valid and any legal status of the agreement which is written on 1 year old stamp paper.
Should I liable to pay that 400,000 Rs.
Kindly advice me
I am Tejas working in Pharmaceutical company. In March 2010 I signed agreement with my employer for 5 years bond period, at that company management promised so many thing and based on that i signed ,which is later become only assurance and never fulfill.
Employer purchased stamp paper for Agreement on MARCH 2009 and we enter/signed agreement in March 2010 , after one year. Now i want to quit this employer and as per bond paper , i suppose to pay 400,000 RS / - if i am not able to finished my 5 years contract. our head office is located in Chennai and they deployed at Africa for company interest.
My question is
can anybody hold any employee , on the name of bond paper and finish his entire career.
Bond paper is 1 year old at the time of agreement , is it valid and any legal status of the agreement which is written on 1 year old stamp paper.
Should I liable to pay that 400,000 Rs.
Kindly advice me
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.
Lateral Leadership White Paper.pdf