Job bond n psu

Amit Varma (Querist) 26 February 2015 This query is : Resolved
Dear Experts

I have been selected in a Indian PSU company under ministry of Railways and got an offer latter, However I am asked to sign a bond of 5 years or 6 lac on a bond paper.
This is further said that the post is for freshers i.e. Scale E-0 with basic 12500/-(gross pay- 32,000)

This duration of 5 years or 6 lac seems too much for the said post when compared with other PSU where for Basic 16500(E-1) the bond duration is 2 years or 2 Lac.

What should I do and whether the above bond s legally enforceable in India ? as nothing justifies such big duration/amount.

I hope to get a quick response.

Thanks in advance

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Guest (Expert) 26 February 2015
Dear Amit,

In which organization the bond is desired to be signed in that organization either attration rate is extraordinarily high due to lack of employee satisfaction, lack of career development, or hazardous work conditions or worse and arbitrary management systems. Good organizations do not feel the need to get any bond signed by their employees.

Once you sign a bond for 5 years, you will have to forget for your career development, as you would not be able to apply in any other organisation to avail better opportunities or you would end up shelling out of Rs. 6 lakhs out of your pocket with consequent repentence in your mind, why you applied for that job.

Rest depends upon your own wisdom, whether you should join or not that post where you would be treated like a bonded labour.

Amit Varma (Querist) 26 February 2015
Dear Dhingra Sir

I appreciate your prompt reply. I have decided not to join this organization.

Really thanks a ton

Guest (Expert) 26 February 2015
Best of luck!

Rajendra K Goyal (Expert) 27 February 2015
Good advise by the expert PS Dhingra ji, agree to it.

R.K Nanda (Expert) 27 February 2015
nothing to add.

malipeddi jaggarao (Expert) 27 February 2015
Good advice by Mr.Dhingra and good decision by the author.

P. Venu (Expert) 27 February 2015
The bond, even if given, could be binding only if the company incur expenses for providing any specialised training to you.