Hello, I have a bond with my current company and I have an offer with another company, and I want to leave my current employer. However, my new employer requires a relieving and experience letter. I am unsure whether I have signed a bond. I have only been given my appointment letter, in which they have stated that I have to serve for 2 years or else pay 100,000. As far as I know, I have not yet signed any bond. Can you help me with this query of what I have to do in this situation?
From India, Bengaluru
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From India, Bengaluru
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Dear Friend,
The Bond is a form of contract and is dealt with under The Indian Contract Act. If you have signed a bond, then any violations of the terms of the bond will be a breach of contract. Though the bond may state that the damage is Rs 100,000, the court in these cases will award reasonable damages. What this amount may be is at the discretion of the court. But if you have not signed a contract, then you are under no liability.
For more information, please visit [Indian Labour Laws & Shram Suvidha Simplified](http://www.shramsamadhan.com/).
From India, Kolkata
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180The Bond is a form of contract and is dealt with under The Indian Contract Act. If you have signed a bond, then any violations of the terms of the bond will be a breach of contract. Though the bond may state that the damage is Rs 100,000, the court in these cases will award reasonable damages. What this amount may be is at the discretion of the court. But if you have not signed a contract, then you are under no liability.
For more information, please visit [Indian Labour Laws & Shram Suvidha Simplified](http://www.shramsamadhan.com/).
From India, Kolkata
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Dear Anonymous,
A bond is not legally binding unless your employer has utilized the bond money for your training. However, they may not be willing to provide you with a relieving certificate if there is such a clause in your appointment letter or if you have signed any bond.
Col. Rathi
From India, Delhi
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A bond is not legally binding unless your employer has utilized the bond money for your training. However, they may not be willing to provide you with a relieving certificate if there is such a clause in your appointment letter or if you have signed any bond.
Col. Rathi
From India, Delhi
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Bond of Employment.doc
Bond in employment.pdf