Hi, Am working as HR Manager, i wanted my resource to sign the service bond. So could any one guide me on how many rupees the bond agreement need to be signed?
From India, Bengaluru
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From India, Bengaluru
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Bonded labor is illegal in India; hence, this kind of bond or agreement to hold an employee has no legal meaning. The Supreme Court has clearly stated that one cannot prevent an employee from joining another company for their betterment. Through a bond, you can only recover the amount spent on an employee for special training, if provided, and nothing more. If you have provided any special training to the employee, then you can recover the amount equivalent to the training cost.
Check out my blog at www.labourlawhub.com
From India, Kolkata
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247Check out my blog at www.labourlawhub.com
From India, Kolkata
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The training costs should be clearly quantifiable.
Beyond that, nothing can be easily recovered from an exiting employee. As a sidelight, consider "resource" as a human employee with his/her own needs and mind.
[Employees must be treated as human beings not 'doings' | Business in the Community](http://www.bitc.org.uk/blog/post/employees-must-be-treated-human-beings-not-doings)
From India, Pune
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Beyond that, nothing can be easily recovered from an exiting employee. As a sidelight, consider "resource" as a human employee with his/her own needs and mind.
[Employees must be treated as human beings not 'doings' | Business in the Community](http://www.bitc.org.uk/blog/post/employees-must-be-treated-human-beings-not-doings)
From India, Pune
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Legally you can’t bind employee. If you do, and employee challenges it by approaching legal authority you could be in trouble.
From India, Mumbai
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From India, Mumbai
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The service bond is a gentleman's agreement. It is not valid in law.
You can take a bond according to the cadre amount reasonably decided by the management and as agreed upon by the employee while taking up employment. There is no hard and fast rule in this regard.
From India, Hyderabad
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You can take a bond according to the cadre amount reasonably decided by the management and as agreed upon by the employee while taking up employment. There is no hard and fast rule in this regard.
From India, Hyderabad
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Service agreement.doc