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Ashish (Engineer)     26 September 2013

Validity of bond/ service aggrement, on 10 rs. stamp paper.?

Dear All, I am Engineer, I have joined in an Ltd. automotive industry, at the time of joining they have signed a aggreement mentioning that " employee will be liable to pay Rs.50k, in case he leaves the org. within 1 year" the same agreement was signed on stamp paper of Rs. 10. My question is, whether such agreement is valid in India? Can company recover from me such amount?? They have not even given me releving nor my last month salary(not even full & final). Can i revoke agreement saying its not legally valid. I would appreciate if any one can guide me in this issue. If you required I will send you the scan copy of that service contract(pls provide me your mail id). Thanks to all in advance. Awaited of some kind of positive response from you all. Regards Ashish Kr Singh



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