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karuna arya (ship broker)     16 March 2014

Automatic renewal of bond

I have been working in private firm for last 15 years. after completion of 10 years my management shifted to me another deptt. Since it was commercial deptt thus i was asked to sign a bond for 4 years. which was completed today/15 march 2014. However as per a clause of bond i had to inform them to terminate the bond atleast 3 months prior expiry of the bond otherwise it would continue to govern both the parties for further period of four years. My mistake that i forgot to give them notice of termination before  3 months prior expiry of the existing bond. Now how can I restrict them so as it should not continue further. Presently i have no plans to quit job but still i do not feel comfortable hence do not want it to be continued further just because i did not notified them 3 months prior expiry of the said bond Please help me....... 



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 3 Replies

Sri Vijayan.A (Legal Consultant)     16 March 2014

Send the notice now

1 Like

Kumar Doab (FIN)     16 March 2014

The bond was drafted by employer in lieu of which extra ordinary favor/expense incurred by employer? If there was none the BOND may be void.

Any communication to the employer should be carefully drafted preferably in consultation with a competent and experienced labor consultant/service lawyer.

 

It shall be appropriate to show the job advt, job application, interview call letter, offer letter, selection letter, appointment letter, CTC sheet, Salary Structure, Salary slips, STANDING ORDERS APPLICABLE TO THE ESTABLISHMENT (CERTIFIED/MODEL) AND EXTENDED TO YOUR DESIGNATION, HR policy, Service rules and regulations, Conduct and discipline rules, BOND, Transfer letter etc…………. Communications exchanged with company to a competent and experienced Labor consultant/service lawyer at your location, give inputs in person and proceed under the expert advice of your lawyer.

 In the meantime you may find the attachments useful.

 

 


Attached File : 587770329 background paper.pdf, 587770329 417759075 validity of employment bonds.pdf downloaded: 88 times
1 Like

T. Kalaiselvan, Advocate (Advocate)     16 March 2014

Thus plan your resignation atleast now and act by sending the requisite notice well in advance to cover the mandatory period of three months and then proceed with the resignation.


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