Training Bond

Querist : Anonymous (Querist) 26 February 2010 This query is : Resolved
Good Afternoon,

I have just completed my Executive MBA and have been selected in MNC.

They have asked me to undergo a 2 year bond.

I have 2 queries-

a. First they have not yet given me appointment letter. So if I sign the bond, does the bond be relevant even without signing the appointment letter?

b. Second, they have just given me 21 days class room training and the bond amount is 1 lakh. Will it be justifiable in Court?

Please reply as I am looking for a better option eleswhere but right now cant say no to them as I dont have much options.

I might get an offer in some good MNC after 1 month but right now can't take the risk of leaving the current job.

Is this bond legal? If I break the bond, do I have to pay the money? The current employer is pressurizing me to sign the bond ASAP without giving me the appointment letter.

Regards,

Anuj Vohra

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R.R. KRISHNAA (Expert) 26 February 2010
Bonds are legal and enforceable. If you break the bond you will have to pay the money.

It is advisable not to sign any such bonds. If your employer is pressurizing you to sign the bond, you meet the top officials of the organization and request them to exempt you from signing the bond.

Or else you look for some other company.

Raj Kumar Makkad (Expert) 26 February 2010
I do agree with krishana

Kumar Thadhani (Expert) 28 February 2010
It looks that the future company is offering you more incentives by way of salary and other allowances .HEnce you are in a bit of cofusion of not signing the contract and sticking to your present employer.choice is your decision is yours.SIR.

Parveen Kr. Aggarwal (Expert) 28 February 2010
Once you sign the bond, you will not be in a position to wriggle out of the obligations undertaken by you thereunder. So be careful and consider all the pros and cons before executing any such bond.

Sachin Bhatia (Expert) 28 February 2010
agree with Mr.Krishana

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