Has the company provided any training to you adding to skill or qualification?
What was the ground of bond?
If there is no valid and legitimate ground for bond then everything including bond becomes unlawful.
You may find the attachments useful.
Is it mentioned in your appointment letter that you shall be eligible for increment in salary? Is it mentioned in bond that you shall not be eligible for increment in salary?
Is it mentioned that interest shall be paid on deductions/security amount.
The bond may be in violation of standing orders.
It shall be appropriate to approach a competent and exeprienced labor consultant/service lawyer, well versed with such matters, show all documents and give inputs in person, and let your lawyer evaluate the merits, and suggest appropriate forum if the need be.
You can seek help from union also, if any.
Employers count on the fact that majority of the employees are ill informed, do not agitate, and do not form trade union/guild/IC and get subdued and shy from seeking legal advice. The contracts are flaunted to press the unlawful, illegitimate demands of the employer.
The employer shall swirl the private contract signed by you to any authority to establish the deductions as agreed entry. All depends upon your resolve. You may proceed as deemed fit.
