Sudhir (Professional) 07 April 2010

Need advice regarding the bond agreement with my employer

Hi,

I have signed a bond with my employer before leaving to US in Dec 2007. Bond states that I need to work for 2 years with my employer once I return from US or pay 2 lakh rupees. I came back on Dec 2008 and my bond period is upto Dec 2010.

But before I came back from US in Dec 2008, my company policy has changed and as per the new policy the bond period is reduced to 1 year or 1 lakh rupees.

Few days back I resigned from my position with my current employer and even after few negotiations my employer said I need to pay 2 lakh rupees though policy has changed after I sign the bond. I agreed to pay 2 lakhs.

I asked a copy of the bond and my employer refused to give it and he is saying a copy will not be given as per company policies. Is this legal on my employer's part? I thought it is my right to get a copy of the bond I signed so that I can have another look at it before I pay 2 lakhs. Please advice.

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4 Replies

Gundlapallis (Advocate) 08 April 2010

It was in the interest of the company the bond was initially prepared. Before signing the bond you should have asked for a copy of it for your safety or even you can insisted for prepeartion of two sets of original bonds for your security - you have waived your right. The company's policy cannot change with retrospective effect. What you have commited on the day of signing of the bond stands good even after the change of policy of the company later. So talk and settle amicabliy - you cannot fight against.

Kuljit Pal Singh (Legal Professional) 08 April 2010

Dear Friend,

In case u leave the co. without paying bond money, the co. may go for Arbitration (in case if it is mentioned in the bond) or Civil court, in both the cases this will become your one of the defence that you have never been provided with the copy of bond, so u can say that it is blessing in disguise.

Regards

anoop sathyan (Process Associate) 13 April 2010

Hi ,

I recently joined an IT company where I am working for their BPO wing. They have asked to sign a bond with them stating that I have to work with them for 1.5 yrs or else I will be liable to pay the company 1 Lac.

Could you please advice if this documents called a bond or a service level agreement which includes a compensation fee and stuff, is legitimate or not? are there any laws which support these kind of employment jobs?

I am confused; though the company tells me that they will pay me more after probation, there is no guarantee for that. They say it will be based on my performance. Another problem with this job is it's completely a night shift timing. What if I cant do the night shifts for 1.5 yrs consequtive and I decide to join a better company before this time span?

Will I have to pay them Rs. 1 Lac? My colleagues advice me not to sign any bonds and also that they havent got any salary hike even without signing any bond for so long. If it wasn't for night shifts, I would have stayed with them.

Please advice soon, as I do have a rough hard copy of this bond right now with me. They have asked me to go through it; I may have to sign it soon.

Waiting for your advice...

Best Regards,

Anoop

email: anoopsathyan@gmail.com