Bond and notice period

Hello, As per your bond with the company if you exit before completion of 1 year you will have to pay a certain amount, so after completion of 1 year, you can exit the company as per the notice period agreed.

Sir, I will server full notice period of 2 months then too I will have to pay?

Dear Mr Dwivedi, A bond is a a indemnification document signed by you. I agree with learned advocate Sh Pawar that if you leave the company before completion of 1 year, legally you have to pay to the company. However let me tell you that YOU will have to pay only if the company files for execution of the bond in the civil court. The bond can be executed only through process of court. Now it is matter of discretion of company whether they will file for the recovery of amount of bond or not. If they dont file for the recovery of the bond amount, you dont have to pay. But please there are other aspects also to this. Since you are a salaries employee who will want to work with other company, your currrent company may not release you, or may not give you experience certificate or may not release your paper (if any with the company). Thus you must take a balanced decision and not just a legal one. And yes you will have to pay even if you give 2 months notice without completing 1 year. Regards Shubham Bhardwaj (Advocate) District & Session Court, Chandigarh Punjab & Haryana High Court, Chandigarh Disclaimer:- Opinion is only for guidance.

Hello Sir, I joined company on 19 October 2020 and if I put resign on 19 October 2021 and give notice period of 2 months and Join other company on 20-Dec-2021, for that still I have to pay...