Service Bond

Hi Haresh,

As it is an agreement between both parties, both the company and yourself are bound to fulfil the conditions mentioned therein, provided the Bond fulfils all the essentionals of a valid contract.

However, any act on the part of company e.g. retaining the original educational certificates/ creating any kind of impediments for the concerned employee to join a job(i.e. to earn)/ manhandelling with the concerned person etc. will adversely mar the cause of company.

Also , the amount of compensation a company can claim must be commensurated with the loss caused , and not more.

Any condition which violates the fundamental rights as defined in constitution / are not tenable in the eyes of law, will again mar the validity of bond in question.
 

ok. so should i have to pay the amount in bond to company if i leave the company??

Yes.... Unless you have any strong ground to prove that the contract(bond) is invalid. To do which, the case has to go to court, which may be time consuming and expensive.

But the company having so much financial problems,also the sallery is not getting on time to time ,so how can i depend on this company for my growth and future??so many peoples are leaving company for this same reason of sallery. the amonut of recovery is very high as around 2 lacks which i cant pay .

but in service bond there is mention the period is two week and i went there is only for one week so there is no meaning of period which is mentioned in bond.??  i have proof for week as tickets of germany. i already  complete the 1 and 5 months here so we can say that for one week i use this knowedge for my 1 and 5 months for the company.

so how the can consider this bond for two week if they not send me for two week??

also in bond the recovery  period is nnot mentioned??

As it appears.... There is no restriction on you not to leave the job..... But as the bond period has not expired you will have to pay some compensation. As the company is also in need of money, they may approach the court for recovery of amount.... In this case you can contend that the company has not fulfilled the condition of sending you for 2 weeks and also you have right to claim proportionate reduction (nearly 50%) in the amount payable, as you have completed almost half of the period of the bond. The court also has power to reduce the compensation to a reasonable level.

If they claim the amount on your resignation, you approach an advocate nearby, who will guide you after studying all the conditions of the bond.

Thank you,

Also i would like to say that company declear me for 3 different incentives appro. Rs.80 ,000 /- for my performance.

so can they will pay me this incetive?? or can it will be adjusted agains recovery??

Thank you,

Also i would like to say that company declear me for 3 different incentives appro. Rs.80 ,000 /- for my performance.

so can they will pay me this incetive?? or can it will be adjusted agains recovery??

Thank you,

Also i would like to say that company declear me for 3 different incentives appro. Rs.80 ,000 /- for my performance.

so can they will pay me this incetive?? or can it will be adjusted agains recovery??

Sure you can claim adjustment if they ask you to pay the amount,,,,, But the main thing is that you should have documents to prove that they had agreed to pay the incentive and have not paid the same....

Anyway they will have to claim the amount in writing. Then you visit a lawyer with the bond and all socuments to prove your claim. They will guide you for further action after studying the bond and other documents(if any).