Dear Seniors,
Greetings for The Day !! :)
As Always I would like to convey my best regards to all Seniors.
Please let me know is bond( employee commitment) is valid in India or not. As I have consulted few people they told that bond system is not valid in India as Company cannot hold any employee for a long time period.
I need your precious suggestions for this.
Thanks & Regards,
Sowmya R
From India, Hyderabad
1Greetings for The Day !! :)
As Always I would like to convey my best regards to all Seniors.
Please let me know is bond( employee commitment) is valid in India or not. As I have consulted few people they told that bond system is not valid in India as Company cannot hold any employee for a long time period.
I need your precious suggestions for this.
Thanks & Regards,
Sowmya R
From India, Hyderabad
Hello Sowmya R,
Can you pl specify the reason(s) for asking this query?
This topic, I think, was discussed in quite a few threads--why not use the 'research' facility @ the top & checkout?
Rgds,
TS
From India, Hyderabad
Can you pl specify the reason(s) for asking this query?
This topic, I think, was discussed in quite a few threads--why not use the 'research' facility @ the top & checkout?
Rgds,
TS
From India, Hyderabad
Hi Taj,
The reason is I got an opportunity in a software company as HR and they are asking me to sign a bond. Though I told them i am not fine with that ,yet I would like to know is really a bond valid in India cos, I heard there is no legal stand for Bonds in India as no company can hold its employee.Hence, I want to seek your suggestion for this.
Regards,
Sowmya R
From India, Hyderabad
The reason is I got an opportunity in a software company as HR and they are asking me to sign a bond. Though I told them i am not fine with that ,yet I would like to know is really a bond valid in India cos, I heard there is no legal stand for Bonds in India as no company can hold its employee.Hence, I want to seek your suggestion for this.
Regards,
Sowmya R
From India, Hyderabad
Hello Sowmya R,
I suggest you don't mix-up issues.
How does it matter to you whether a Bond is legal or not? This only indicates a POSSIBILITY that you are interested in this job ONLY BECAUSE you don't have any other current options AND want to jump the bond at the earliest opportunity. If you want to BEGIN with this mental framework, do you think you will do justice to your job, even if you join?
Don't you think the company needs to protect IT'S interest in some way? Being into HR line, I am sure you would understand this better than many others--since you must have seen recruiting too & also seen employees jump the bond...which must be the reason why this company is insisting on a Bond even for the HR person.
Suggest focus on the other aspects of this opportunity--again, to repeat-without mixing-up issues:
1] What duration is the Bond for?
2] What is the value if you jump the Bond?
3] How good is the company, in terms of a long-term association, meaning growth prospects?
4] Do you think your tenure in this company WILL lead to learning/enrichment of your professional knowledge-base?
5] What will be your possible role in this company--IMMEDIATELY & after Probation? And do you think it will add to your overall profile, let's say, after 1-2 yrs?
Once you answer these questions for yourself, then I think deciding reg the Bond becomes easier.
And, BTW, Bonds--in general--are not legal in India, but there have been cases too that companies have argued successfully in courts that the Bond in their case is valid. It all depends on how it's projected in the courts-if & when it goes to that stage.
Rgds,
TS
From India, Hyderabad
I suggest you don't mix-up issues.
How does it matter to you whether a Bond is legal or not? This only indicates a POSSIBILITY that you are interested in this job ONLY BECAUSE you don't have any other current options AND want to jump the bond at the earliest opportunity. If you want to BEGIN with this mental framework, do you think you will do justice to your job, even if you join?
Don't you think the company needs to protect IT'S interest in some way? Being into HR line, I am sure you would understand this better than many others--since you must have seen recruiting too & also seen employees jump the bond...which must be the reason why this company is insisting on a Bond even for the HR person.
Suggest focus on the other aspects of this opportunity--again, to repeat-without mixing-up issues:
1] What duration is the Bond for?
2] What is the value if you jump the Bond?
3] How good is the company, in terms of a long-term association, meaning growth prospects?
4] Do you think your tenure in this company WILL lead to learning/enrichment of your professional knowledge-base?
5] What will be your possible role in this company--IMMEDIATELY & after Probation? And do you think it will add to your overall profile, let's say, after 1-2 yrs?
Once you answer these questions for yourself, then I think deciding reg the Bond becomes easier.
And, BTW, Bonds--in general--are not legal in India, but there have been cases too that companies have argued successfully in courts that the Bond in their case is valid. It all depends on how it's projected in the courts-if & when it goes to that stage.
Rgds,
TS
From India, Hyderabad
Hi Sowmya
Apart from what TS suggested,
Here is what I would like to add..
# do ponder about the compensation package and compare it with the industry standards, as most of the time people want to break the bonds due to this particular factor - salary.
as once you sign the bond it won't be advisable to jump it.
# The total period of Bond - One to 2 years is a good period beyond that it becomes monotonous and also look at your growth chart during the bond period.
# Read the clauses in detail and seek guidance from some mentor..and then go ahead.
Bonds are not legal in India, still there are many ways companies utilizing them for their benefits...for example..bond for some special trainings and the cost incurred thereof, retention bonds etc.
From India, Delhi
Apart from what TS suggested,
Here is what I would like to add..
# do ponder about the compensation package and compare it with the industry standards, as most of the time people want to break the bonds due to this particular factor - salary.
as once you sign the bond it won't be advisable to jump it.
# The total period of Bond - One to 2 years is a good period beyond that it becomes monotonous and also look at your growth chart during the bond period.
# Read the clauses in detail and seek guidance from some mentor..and then go ahead.
Bonds are not legal in India, still there are many ways companies utilizing them for their benefits...for example..bond for some special trainings and the cost incurred thereof, retention bonds etc.
From India, Delhi
Dear All,
The view points from Sateesh & Archana is more than perfect and gives you a better idea to judge on the issue raised
Would like to add on few more aspects on this topics :
When a company signs / insists for a bond to the employee , either it must have planned for a considerable amount of investment on the employee in terms of major training initiatives or sending the employee for a official onsite / abroad visit or the employee recruited will be responsible / heading a key project and any delay or hindrance to the same will amount to huge losses for the employer.
This practice is more prevalent in Manufacturing / IT / Engineering Bases industries which uses specific skill set resources like engineers, technicians etc.
In the above cases, if the employee chooses to break a bond ( a legally drafted one in bond paper , signed by both parties , surety and witnesses ) , he / she can be challenged using the document in any court in India. If the costs involved by company are true, recorded and has valid documentary proof , an employee is liable to pay the sum mentioned in the bond / service.
Other side of this issue : - A company signs / insists for a bond to the employee, if they don't have the confidence to retain the employee with their exiting benefits (monetary & non monetary) and working environment.
I would sincerely suggest you not to be part of a company which insists a bond , firstly you being from the HR field doesn't demand any intensive training and looking at your future career (which is unpredictable to the core).
From India, Mumbai
The view points from Sateesh & Archana is more than perfect and gives you a better idea to judge on the issue raised
Would like to add on few more aspects on this topics :
When a company signs / insists for a bond to the employee , either it must have planned for a considerable amount of investment on the employee in terms of major training initiatives or sending the employee for a official onsite / abroad visit or the employee recruited will be responsible / heading a key project and any delay or hindrance to the same will amount to huge losses for the employer.
This practice is more prevalent in Manufacturing / IT / Engineering Bases industries which uses specific skill set resources like engineers, technicians etc.
In the above cases, if the employee chooses to break a bond ( a legally drafted one in bond paper , signed by both parties , surety and witnesses ) , he / she can be challenged using the document in any court in India. If the costs involved by company are true, recorded and has valid documentary proof , an employee is liable to pay the sum mentioned in the bond / service.
Other side of this issue : - A company signs / insists for a bond to the employee, if they don't have the confidence to retain the employee with their exiting benefits (monetary & non monetary) and working environment.
I would sincerely suggest you not to be part of a company which insists a bond , firstly you being from the HR field doesn't demand any intensive training and looking at your future career (which is unpredictable to the core).
From India, Mumbai
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