Mr. Pasumarthy has given valuable advice. Kindly follow it.
Has the company declared it in writing in its advertisement for the job, subsequent interview call letter, emails, offer letter, appointment letter, joining report etc.....that you shall have to sign a service agreement or bond? If no, it is perturbing.
What is the ground for bond expressed to you or in the bond?
Has the company issued you an appointment letter and have you signed the acceptance?
The terms and conditions of the appointment are to be accepted and it becomes a contract. If the terms and conditions are illegal, bad in the eyes of law these can not be executed.
If an appointment letter has been issued to you and accepted by you and a notice period/pay for separation/termination has been mentioned in it, it shall apply to you.
If bond has been provided to you after the appointment letter you may succeed in getting an upper hand and you may submit a gentle communication in writing under acknowledgment addressed to good offices of your appointing authority, MD, CEO, Company Secretary stating that on dated……..Mr/Ms……..designation, department, address……..has called you and showed a bond and asked you to sign it on the spot and did not allow it be studied and shown for consultation and opinion on the contents of the bond {to elders in the family, experienced well wishers. It is not necessary to write it.}
No such bond was ever informed to you before this date. You are unable to sign it.
You may request the good offices to allow you to continue in office without he bond or allow you sufficient time to look for alternate employment suitable to you so that you are not without any source of livelihood and if it is not acceptable this communication be treated as a notice of resignation as per clause number……of appointment letter dated………issued to you and effective date of your resignation/last day in office shall be dated………… Routine work may be assigned to you that can be completed up to and within your last day in office and good offices may inform you to whom you should handover the charge/company property under proper acknowledgment on the spot and good offices may ensure smooth completion of exit formalities. If you tender abrupt resignation you may be chased for notice pay etc….However if you represent properly you shall separate with entitlement for salary and service certificate. If company accepts your notice before expiry of notice period expressed by you it can be termed as illegal.
Employer usually does not accept notice with conditions. However you are expressing logic.
Remain amiable in office and avoid any altercation and debate. Do not give any opportunity to charge you on any count. If HR or line management asks you verbally to sit at home request them to state so in writing and state that your wages shall be paid.
In a given situation employee can invoke the Industrial Employment standing orders Act, Payment of Wages Act, SE Act, and ID Act as per explanation of employee under these Enactments or approach civil court.
Kindly consult elders in the family, experienced and competent well wishers and fine tune your representation as suitable to you.