Bonded employment

anilkumar (Querist) 23 January 2016 This query is : Resolved
Dear experts, I would like to know whether bonded employment is valid even if the employee has earned monetary benefits from the company...

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Kumar Doab (Expert) 23 January 2016
You may post the details and facts of the matter.

Guest (Expert) 23 January 2016
What do you mean by bonded employment? Discuss your problem in detail.

anilkumar (Querist) 23 January 2016
An indemnity bond has been executed to serve at least 2 years. In the event of leaving the company at any reason liable to pay 2 lacs as liquidatory damages.

If the employee leaves the company within the said 2 years, whether it is legally enforceable?

Rajendra K Goyal (Expert) 24 January 2016
Service bonds are agreements and can be enforced by law.

Guest (Expert) 24 January 2016
Service Bonds, being contract agreement for service are enforceable legally. Consultation was required to be made prior to signing the service bond.

However, if some conditions of bond are found to be illegal or void that may not be enforceable. For that purpose, it is advisable that you may get the copy of bond examined from a service laws expert to find, if any thing is found ilelgal or void that may be helpful in saving you from the penalty of 2 lakhs as bond amount.

Kumar Doab (Expert) 24 January 2016
The said indemnity bond was created in lieu of what favor by employer.......say some specialized training from some certified Instt. etc?

What is this employer: Govt/Semi Govt/PSU/Private etc?

Whats is our designation and nature of duties?

Do you have each document that was exchanged before and after signing the said Indemnity Bond e.g; Job advt/job application/interview call letter/offer letter/appointment letter/all rules and policies etc mentioned in appointment letter/service rules and regulations etc?

Was this Indemnity Bond placed before you after you resigned from previous employment and signed appointment letter?

Do you have the copy of the said Indemnity Bond?

You may show all of these to an able counsel specializing in such/service matters.

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