Shubham Bhardwaj
(Advocate)
06 September 2021
Dear Mr Dwivedi,
A bond is a a indemnification document signed by you. I agree with learned advocate Sh Pawar that if you leave the company before completion of 1 year, legally you have to pay to the company. However let me tell you that YOU will have to pay only if the company files for execution of the bond in the civil court. The bond can be executed only through process of court. Now it is matter of discretion of company whether they will file for the recovery of amount of bond or not.
If they dont file for the recovery of the bond amount, you dont have to pay.
But please there are other aspects also to this. Since you are a salaries employee who will want to work with other company, your currrent company may not release you, or may not give you experience certificate or may not release your paper (if any with the company). Thus you must take a balanced decision and not just a legal one.
And yes you will have to pay even if you give 2 months notice without completing 1 year.
Regards
Shubham Bhardwaj (Advocate)
District & Session Court, Chandigarh
Punjab & Haryana High Court, Chandigarh
Disclaimer:- Opinion is only for guidance.