Hello I have a bond with my current company and I have an offer with other company and I want to leave my current employer. But my new employer wants relieving and experience letter . And I don't know whether I have signed a bond or not . I have only given my appointment letter and there they have mentioned that " I have to server for 2 years or else pay 100000" . As of I know I have not yet signed any bond. Can you help me with this query of what I have to do in this condition.
From India, Bengaluru
From India, Bengaluru
Dear Friend,
The Bond is a form of contract and is dealt under The Indian Contract Act. If you have signed a bond, then any violations of the terms of bond will be breach of contract. Though bond may say that the damage is Rs 100000/-, but court in these cases will awards reasonable damages. What this may be is upon discretion of the court.
But if you have not signed a contract the you are under no liability.
See this for more Indian Labour Laws & Shram Suvidha Simplified
From India, Kolkata
180The Bond is a form of contract and is dealt under The Indian Contract Act. If you have signed a bond, then any violations of the terms of bond will be breach of contract. Though bond may say that the damage is Rs 100000/-, but court in these cases will awards reasonable damages. What this may be is upon discretion of the court.
But if you have not signed a contract the you are under no liability.
See this for more Indian Labour Laws & Shram Suvidha Simplified
From India, Kolkata
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.
12 simple tips to enjoy your current job.doc
CTC Comparison 5 Lacs (Current & Proposed).xls