Validity of bond in india

Raju Balodi (Querist) 26 December 2012 This query is : Resolved
Dear Experts,

My Company in which I am already working since last one and half year wants to enter with me a bond (contract) of 3 years in which the Company wants my commitment not to resign till the completion said 3 years from the date of appointment as Manager (Secretarial), I want to know whether it is legal as per Indian laws and under which law.

I need your kind guidance in this regard.

With Warm Regards
Raju Balodi

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Guest (Expert) 26 December 2012
Depends upon the nature of contents of the bond. If nothing void or voidable, as per existing laws, a service bond just serves the purpose of a service agreement between the employer and employee. So, can be possible to decide only after examination of contents of the bond.

R.K Nanda (Expert) 26 December 2012
better go for 11 months bond.

Anirudh (Expert) 26 December 2012
There is nothing illegal about the bond which you are talking about. At best, if you do not agree with the said Bond, better do not sign it. That is it. Nothing more, nothing less.

Raj Kumar Makkad (Expert) 01 January 2013
Bond is a mutual agreement of the parties binding both parties for a specific term so read it carefully and if you deem it proper, only then sign it otherwise it cannot be forced upon you.

ajay sethi (Expert) 01 January 2013
if you want to continue working for said organisation you will have to sign the bond . other wise look for alternative job

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