Emplyment bond

Employee should read each document carefully, and show it and consult elders in the family, competent and experienced well wishers, lawyer/law firm before signing on the dotted line in haste.

What is the ground for introducing bond to you and enforcing it? Has the company provided any training at its cost adding to the skill and qualification? Has the company supplied you any communication prior ot introduction of bond explaining the reason, logic, purpose, or cause? Has the company sought your concurrence?

Did the company elaborate on any training to be provided and its actual and factual cost and ask you to undertake the training or sought your concurrence? Did the company supply the soft or hard copy of the bond and allow you to take it for seeking advice and consultation and thus enabling you to come back on the terms and clauses not acceptable to you? Has the company stated that annual increments be granted and appraisal shall be conducted? Has the company given any rise in salary for signing this bond?

Did the comapny promote you and asked you to sign the bond.

Is it a service agreement, non-compete agreement, non disclosure agreement..........?

You may show the bond to a competent and experienced service lawyer and give inputs in person. Having signed the bond you have give the reason to company to chase you. You can also attach the bond ion this thread. You may erase the names etc to maintain the confidentiality.

Company shall have to prove the actual expenses incurred by it if it has provided any training or education to you which added to skill and qualification.

You have worked for 8 long years with the company and could hasve easily crossed floor by joining other top company

in the trade with good HR practices.

You may find the attachements useful.

Hello,

I am working in a firm since last 7 months. They have taken Rs. 100 Non-Judicial Bond from me.

It is written on it that If I leave the firm before 2 years then I will have to pay Rs.30,000 back.

I read that the stamp paper has 6 months validity.

I purchased the stamp paper of Rs.100 on 30th November,2011.

I signed that stamp paper on 23rd June,2012.

I wrote the 23rd June,2012 date after my signature.

So I signed this stamp paper out of it's validity.

Now if I break this bond what will be the legal action they can take against me?

Kindly reply.

Thank You.

There has to be some logic and ground for introducing bond.

What are the logics, reason expressed in the bond?

You may show the bond to a competent and experienced service lawyer and give inputs in person including the one you have mentioned in your post.

“The Indian Stamp Act, 1899 nowhere prescribes any expiry date for use of a stamp paper merely provides that a person possessing a stamp paper for which he has no immediate use (which is not spoiled or rendered unfit or useless), can seek refund of the value thereof by surrendering such stamp paper to the Collector provided it was purchased within the period of six months next preceding the date on which it was so surrendered. The stipulation of the period of six months prescribed in Section 54 is only for the purpose of seeking refund of the value of the unused stamp paper, and not for use of the stamp paper. Section 54 does not require the person who has purchased a stamp paper, to use it within six months. Therefore, there is no impediment for a stamp paper purchased more than six months prior to the proposed date of execution, being used for a document.”

You may find the attachment useful. Let your lawyer opine finally.

Valuable advice of learned experts/members is sought.