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dyananda (branch accountant)     20 May 2013

Bond

I had bonded staff for 5 years of a microfinance company I had joined the company on 18.jan.2011 but i want to resignation on 09.06.2013...............  There is any way releif from bond and not to pay 50000 amount for penalty of bond. 



Learning

 5 Replies

Kumar Doab (FIN)     20 May 2013

 

 

What is the ground for creating bond for 5 long years?

You may show the job advertisement, interview call letter, selection letter, offer letter, appointment letter, bond to a competent and experienced labor consultant/service lawyer specializing in such matters.

 

In the meantime you may go thru attachments.

 


Attached File : 74059962 417759075 validity of employment bonds.pdf, 74059962 background paper.pdf downloaded: 98 times
1 Like

dyananda (branch accountant)     21 May 2013

bonded  under that  the 

1 . If before period of bond , I leave the company then He/she should paid Rs. 50000/-. before leave the compnay....... 

Adv k . mahesh (advocate)     21 May 2013

if you have not given any certificates then leave the job 

dyananda (branch accountant)     21 May 2013

dear sir

but I had singned on stamp paper 

Kumar Doab (FIN)     22 May 2013

 

 

You have signed on the stamp paper.

 

If you have signed on stamp paper it does not prevent you to seek a legal opinion from your lawyer.

 

Your lawyer would be able to extend his/her qualified opinion after examining your documents, analyzing the merits in inputs given by you.

 

Generically speaking:

- the common sense directs that if company wants an employee to commit to remain in employment for 5 long years then what is exchange is given by company to employee?

 

-the liability is already set in bond: a financial compensation.

The claim can not be more than this amount.

If at all the matter land up in court the Court may set it to a reasonable amount.

Or the court may decide that the bond is unconscionable, void, unreasonable, unenforceable………

 

Approach lawyer specializing in such matters and proceed under expert advice.

The lawyer who has seen your docs can advice you best.

 

 

 


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