SERVICE BOND
Querist :
Anonymous
(Querist) 23 July 2010
This query is : Resolved
Dear All
I want an opinion that in a service bond which is for 5 years it is mentioned that you will serve the compny for five years and in case of leaving the organisation before that period you will be liable to pay 3 months gross salary calculated at the rate of salary drawn during the last month.
The bais facts are Probation period is six month, (Service Bond period is calculated frm the date of joining)
1.Agreement is silent for the any notice period provided by the company to employee.
2.Its purely in favour of the company and nothing is mentioned about the future prospects and any other liability towards company
3.Company besides PF also deducting supperannuation,security,part of the bonus from salary.
Questions are:
Whether one sided service bond where no training is provided by the company to employee is valid?
In case of leaving the organisation by the employee can company recover three month salary and if yes then what would be the calculation if any employee before giving notice takes leave and t draw a salary total 10000 instead of gross 50000. Please note after drawn salary rs.10000 he will give notice to company for immediate leaving?
Kindaly guide how he can leave to sav money and what should he do for leaving?
Devajyoti Barman
(Expert) 23 July 2010
If it is found that the terms of an agreement is unreasonable or coercive in nature the same can be held not enforceable by the court.
In your case without seeing the whole of it is difficult to suggest.
