What is the consideration for creating this bond?
Or
The company has asked to sign the bond in lieu of what?
Has the company incurred some expenses on you for say training………………..that has added to some extra ordinary skills, qualification?
You may show the job advertisement, interview call letter, offer letter, appointment letter, bond, doctor’s Rx, sick leave application, legal etc to a competent and experienced labor consultant/ service lawyer specializing in such matters and proceed under expert advice.
A trained legal eye and trained legal mind that has examined all statements and clauses verbatim and the merits can advice you best ……………….
If liquidated damages have been stated in the bond that shall be the maximum amount company can claim……………………………..and company may have to prove the claim.
If you are pulled to court of law the court shall decide on the reasonableness of the claim and reasonable amount of the claim…………………………
The reply to the legal notice by your lawyer may suffice……………………….to drill sense into the heads and matter may end.
It is felt that a fitting reply to the legal notice shoud be submitted.
You may proceed as deemed fit at your end.
In the meantime you may go thru the attachments.
Employee should always consult elders in the family, competent and experienced well wishers, lawyer/law firm before signing on the dotted line…………….
If all employers in your trade won’t recruit without agreements/bonds you should retain access to a lawyer and thus avoid legal traps.