I am working with a co-op bank. With reference to one of the conditions of my appointment order I have to execute a Service Bond of 5 years. Failing to which I have to pay to bank 6 Months salary and payment for all other fringe benefits. The fact is I have not executed the bond on stamp paper. Now after 1 years and 10 months I want to join another bank for better career opportunity. Bank is pressuring me to pay the dues as explained above. Please let me know from the legal point of view Can the bank recover the dues from me.
From India, Sangli
From India, Sangli
Dear Kumbhar (If I may address you thus)
Please click on the links under "Related Information" in the sidebar to the right of the message box. There such issues have been covered in the past. For example, https://www.citehr.com/46589-employm...nload-pg2.html
From United Kingdom
1624Please click on the links under "Related Information" in the sidebar to the right of the message box. There such issues have been covered in the past. For example, https://www.citehr.com/46589-employm...nload-pg2.html
From United Kingdom
Hello,
This topic....of the legal validity of Service Bonds......has been discussed MANY MANY times earlier in this Forum.
Since you are a new member, suggest pl use the 'research' facility @ the top of this page for access to the Archives of CiteHR.
You should be able to get far more details than any short response to this posting.
However, in a single line, any Bond linked to any Training given by the Organization is legal.
Rgds,
TS
From India, Hyderabad
This topic....of the legal validity of Service Bonds......has been discussed MANY MANY times earlier in this Forum.
Since you are a new member, suggest pl use the 'research' facility @ the top of this page for access to the Archives of CiteHR.
You should be able to get far more details than any short response to this posting.
However, in a single line, any Bond linked to any Training given by the Organization is legal.
Rgds,
TS
From India, Hyderabad
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Employer suit for breaking service bond within 3 yrs - Delhi HC 5.9.2014.pdf
Death while in service letter for pf death claim.docx