Pd cheques against bond executed by management trainee
Nirmala
(Querist) 20 June 2012
This query is : Resolved
legal obligations towards management trainee and employer of employer demand PD cheque against the bond executed while joining a management trainee. Trainee has agreed to serve the company for 3 years and in case of breech of agreement trainee has to pay 2 lakh to the company. Their is a clause of security deposit for 12 months of 5 thousand per month which will be deducted from their stipend shall be refunded if they complete 3 yrs of service. Can employer take PD cheques against the bond money is it valid. if cheque bounce will it be offence on trainees part
SAINATH DEVALLA
(Expert) 20 June 2012
Cheque bounce is always a willfull offence u/s 138 NI ACt.Of course it can be defended too with merits.Taking of PD Cheques would not have been mentioned in the agreement,and they have obtained as a precautinary measure.
Nirmala
(Querist) 21 June 2012
Sir, I need further clarification. We adopt this system of taking posted dated cheques from Mgmt Trainee and the same shall be mentioned in the agreement. Bond period shall be 3 yrs, the cheque will be of 1 lakh. Can u suggest precautionary measures, technicality(legal issues) to be taken care while executing this system.
Shonee Kapoor
(Expert) 21 June 2012
Such bonds are only enforceable if the company provides some specialized training to the employee.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
