PRECAUITIONS FOR SIGNING EMPLOYMENT BOND

Dear Members

Fresher or even employees with experience have to sign Bond. They are forced to sign it and have no other go.We find lot of posts on implications of Bond. It is better to take preventive steps and not repent and be in a fix later .


Before signing a Bond the following precaution needs to be taken:-

In case the Bond is to cover Training Expenses i.e. Training Bond.

i) Check on the amount of the Bond;

ii) Check up the cost of Training and whether the Employee will actually spend the amount.;

iii) See whether the liability to pay arises after the Company incurs the cost of training which shall be notified by the Employer separately;

iv) Request for proportionate reduction of the Bond amount dependent on the period of service.

In case the Bond is to cover service with the Employer for a particular period i.e. Service Bond.

i) Check the amount of the Bond. It must be reasonable and not an unreasonable amount and also the period has to be checked. This is also to be reasonable.

ii) It should also mention that it is for voluntary resignation and not for termination or forced termination by the Employer.

iii) Request for proportionate reduction of the Bond amount dependant upon the period of service.

 

In case of any query please do not hesitate the experts in https://www.lawyersclubindia.com

With Regards


VS Rajan Associates,
Advocates & Notaries & Legal Consultants HR
No.27, Ist Floor, Singapore Plaza,
No.164, Linghi Chetty Street,
Chennai - 600 001.
E-mail : rajanassociateslawfirm@eth.net
Off : 044-42620864, 044-65874684,
Mobile : 9840142164-9025792684-9025792634