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Breaking Of Service Bond In Mnc

Discuss Labor Laws

Breaking Of Service Bond In Mnc

Postby Elie » Sun Dec 04, 2016 7:29 am

sir im about to join a mnc after some days.they have mentioned a bond of 2 years in my joining letter n says that i will have to pay a fine of 2lacks in case of breaking the bond.what do i do?what if i break this bond after six months.can the company stop me from leaving or will they file a case against me?will i have to pay the amount in the condition of breakinf the bond.plz help

ANSWER: Dear Padmini,

Hope you're doing well!

Yes you're about to sign a service bond of 2 years which has a value of Rs. 2 Lakh and if any of you breaches the bond will be required tp pay Rs. 2 Lakh as a compensation for the breach of service bond. In case of breach the company may also summon you under the local judicial bodies. It's always advisable to work atleast for 2 years as it gives an impression to the employer that the employee has a good stability in all past companies.

best regards,

Umesh Chaudhary

New Delhi, India

([email protected])

---------- FOLLOW-UP ----------

hello sir,thankyou for ur answer.but i still have doubts cause i checked the lawers club site and read some post that mentioned the same problem and the answer mentioned was that if the bond is a work bond then we can ignore it since single sided work bonds are invalid under labour act.im still confused.my company is going to provide me training for 2 months.so is the fine in case of breaking the bond because of this.please help

ANSWER: Dear Friend,

Could you ellaborate the conditions specified in your service bond in brief.

best regards,

Umesh Chaudhary

New Delhi, India

([email protected])

---------- FOLLOW-UP ----------

yes sir.the company says that i will have to sign a bond of 2 years before joining and will have to undergo a training of 2 and a half months after which they will assess my performance and in case if i fail to clear the assessment the offer will be revoked, and i will not be able to continue with the company.now my question is that if the company is undertaking my aggreement on signing a 2 years bond and even putting a condition on my job confirmation on the condition of an assessment of 2 months training after which they will decide my continuation.is this a valid aggreement.i think the aggreement should be on both the parties.That if i want to leave the job after completion of training before the company offers me a permanent job confirmation will the company have any objection in that.please help
Elie
 
Posts: 41
Joined: Wed Jan 22, 2014 5:19 pm

Breaking Of Service Bond In Mnc

Postby Sammy » Sun Dec 04, 2016 2:13 pm

Dear Padmini,

The service bond seems to be biased on employer side therefore to me it looks illegal. Any service bond cannot have conditions which are inappropriate in nature and one sided.

Best regards,

Umesh Chaudhary

New Delhi, India

([email protected])
Sammy
 
Posts: 41
Joined: Mon Feb 24, 2014 9:34 am

Breaking Of Service Bond In Mnc

Postby Finnobarr » Wed Dec 07, 2016 9:49 pm

sir im about to join a mnc after some days.they have mentioned a bond of 2 years in my joining letter n says that i will have to pay a fine of 2lacks in case of breaking the bond.what do i do?what if i break this bond after six months.can the company stop me from leaving or will they file a case against me?will i have to pay the amount in the condition of breakinf the bond.plz help

ANSWER: Dear Padmini,

Hope you're doing well!

Yes you're about to sign a service bond of 2 years which has a value of Rs. 2 Lakh and if any of you breaches the bond will be required tp pay Rs. 2 Lakh as a compensation for the breach of service bond. In case of breach the company may also summon you under the local judicial bodies. It's always advisable to work atleast for 2 years as it gives an impression to the employer that the employee has a good stability in all past companies.

best regards,

Umesh Chaudhary

New Delhi, India

([email protected])

---------- FOLLOW-UP ----------

hello sir,thankyou for ur answer.but i still have doubts cause i checked the lawers club site and read some post that mentioned the same problem and the answer mentioned was that if the bond is a work bond then we can ignore it since single sided work bonds are invalid under labour act.im still confused.my company is going to provide me training for 2 months.so is the fine in case of breaking the bond because of this.please help

ANSWER: Dear Friend,

Could you ellaborate the conditions specified in your service bond in brief.

best regards,

Umesh Chaudhary

New Delhi, India

([email protected])

---------- FOLLOW-UP ----------

yes sir.the company says that i will have to sign a bond of 2 years before joining and will have to undergo a training of 2 and a half months after which they will assess my performance and in case if i fail to clear the assessment the offer will be revoked, and i will not be able to continue with the company.now my question is that if the company is undertaking my aggreement on signing a 2 years bond and even putting a condition on my job confirmation on the condition of an assessment of 2 months training after which they will decide my continuation.is this a valid aggreement.i think the aggreement should be on both the parties.That if i want to leave the job after completion of training before the company offers me a permanent job confirmation will the company have any objection in that.please help
Finnobarr
 
Posts: 61
Joined: Sun Jan 12, 2014 6:10 am


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