employment bond

Querist : Anonymous (Querist) 23 May 2010 This query is : Resolved
is employment bond valid in india? I belong to a small place in MP Some how i completed my BE degree and 3 months back i joined this company through newspaper advt. i was not having time to read full papers. it contained that 2.5 year bond perios and 2.50 lack rupee value. my salary is 9500/- now the work is not good and my futre is at risk. so when i asked for resignation HR ppl say either work for 2.5 year or pay 2.50 lacs rupee... so pl guide on thiss

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mahendrakumar (Expert) 23 May 2010
yes you are legally bound as per the contract.

since you had signed the contract,you cannot say that,you have not read the content of the document.

Kiran Kumar (Expert) 23 May 2010
yes such bonds are valid and have been accepted by the Courts as well.

u ll have to honour the contract....the rules have changed my dear, free economy lends free hand to the employer as well.

Raj Kumar Makkad (Expert) 23 May 2010
There is no way but to accept the current employment and wait for the expiry of bonded period.

B K Raghavendra Rao (Expert) 23 May 2010
Look deep into the loopholes, if any, in the agreement contract and try to take advantage of that if you are not interested in the job.

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