Jayanta (Service) 11 March 2021
Just received an joining offer from Start Up at a very small CTC-Rs.3 Lakhs.
The employer mandatorily wants execution of Employment Bond for 2 years- First of all they are taking advantage of Covid scenario and a poor package. This is a Private and Start up company.
Is it legally binding -even if one is forced to sign the Bond.
Kindly guide
avadhesh Paliwal 13 March 2021
YES YOU HAVE TO SIGNED THE BOND .....BUT THERE SHOULD NOT BE ANY SCRIPT IN BOND WHICH IS ILLLEGAL....PLEASE SHARE WITH ME THE BOND WRITTERN DOCUMENT
Ritesh Maity (Labour Law Advocate) 14 March 2021
Employment bond is not valid as per decisions of the Hon'ble Apex Court. It is also prohibited in terms Sec 27 of the Indian Contract Act. Such bond may be executed only when an employee is given any special training for which the employer has to incur additional cost apart from CTC.
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