Hi all,
Kindly help me in the following issues.
1. i joined a registered pvt. ltd. company in bangalore in Aug 2009. they have requested me to execute a bond for 5 years. i had 6 yrs of exp when i joined.since i was desperate for a job at that time and moreover i wanted to settle down i have agreed and signed it.
The bond says that the company incurs Rs. 2 Lakhs for my training and so if at all i have to leave the company i have to pay 75% (ie, Rs. 1.5 Lakh) as compensation to the company. the rest 25% is the amount the company will earn from the work done by me. they have got my original certificates also.
i was not even given a copy of the bond as i was said that it is a company policy and i was not even given a receipt for submission of the certificates.
The company has given me a induction training for 15 days and i was kept in probation for 4 months. in the month of December i was confirmed.
There was no special training given to me.
Now the condition is i have been overburdened with work and am not treated properly. sarcastic comments from my boss is also part of my daily routine in the office.
i do have some discord in my marital life so , the pressure i am handling right now is going beyond my limits.
I am getting drained mentally both in my personal and professional life.
So now i wanted to resign my job and settle in my native place and find a job there.
Also at one place it is written that if at all i have to leave after the bond period i have to give 3 months notice or 3 months pay
So kindly advice me on the implications if i put up my resignation letter.
Note: i had a chance of late to see my bond in the office. in that bond only my signature is there.
in the place of witness they have written father in brackets which my father haven't signed. from the companies side nobody has signed it and only company seal with address is there. Will that bond be valid?
From India, Kochi
Kindly help me in the following issues.
1. i joined a registered pvt. ltd. company in bangalore in Aug 2009. they have requested me to execute a bond for 5 years. i had 6 yrs of exp when i joined.since i was desperate for a job at that time and moreover i wanted to settle down i have agreed and signed it.
The bond says that the company incurs Rs. 2 Lakhs for my training and so if at all i have to leave the company i have to pay 75% (ie, Rs. 1.5 Lakh) as compensation to the company. the rest 25% is the amount the company will earn from the work done by me. they have got my original certificates also.
i was not even given a copy of the bond as i was said that it is a company policy and i was not even given a receipt for submission of the certificates.
The company has given me a induction training for 15 days and i was kept in probation for 4 months. in the month of December i was confirmed.
There was no special training given to me.
Now the condition is i have been overburdened with work and am not treated properly. sarcastic comments from my boss is also part of my daily routine in the office.
i do have some discord in my marital life so , the pressure i am handling right now is going beyond my limits.
I am getting drained mentally both in my personal and professional life.
So now i wanted to resign my job and settle in my native place and find a job there.
Also at one place it is written that if at all i have to leave after the bond period i have to give 3 months notice or 3 months pay
So kindly advice me on the implications if i put up my resignation letter.
Note: i had a chance of late to see my bond in the office. in that bond only my signature is there.
in the place of witness they have written father in brackets which my father haven't signed. from the companies side nobody has signed it and only company seal with address is there. Will that bond be valid?
From India, Kochi
Dear Anand,
You have entered into a wrong agreement . You should not have done this . Expenses incurred by the employer on training are recoverable specifically if it is costly and such bonds are enforceable in the court of law , and case can be filed against you if you pay dis-regard to the terms and conditions mentioned their-in.
Had it been a bond other than the training cost , it would not have been eneforceable in the court of lawa because as per Bonded Labour Act 1970 , Bonded Labour is Not permissible and it is an offence by the employer.
Since you have seen your bond agreement and you are saying that it bears official seal of the company , that itself acts as a signature , whether physically it is signed or not . The companies official can sign it as & when it is need arises.
Physical signature is not needed because company itself is an artificial person , and it has got distinct legal entity independent of its own , it official seal itself is sufficient.
From India, Rohtak
15You have entered into a wrong agreement . You should not have done this . Expenses incurred by the employer on training are recoverable specifically if it is costly and such bonds are enforceable in the court of law , and case can be filed against you if you pay dis-regard to the terms and conditions mentioned their-in.
Had it been a bond other than the training cost , it would not have been eneforceable in the court of lawa because as per Bonded Labour Act 1970 , Bonded Labour is Not permissible and it is an offence by the employer.
Since you have seen your bond agreement and you are saying that it bears official seal of the company , that itself acts as a signature , whether physically it is signed or not . The companies official can sign it as & when it is need arises.
Physical signature is not needed because company itself is an artificial person , and it has got distinct legal entity independent of its own , it official seal itself is sufficient.
From India, Rohtak
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