Employee bonds - it company

taking bond from employee is not legal.

You can do one thing you have only two month with this project. Just stop to go office.

Dont keep any money on the bank which you have given cheque. Also inform to bank to stop any cheque which depsoite against your account.

No action will be taken belive me.

You have signed on the document by your free will and your company can take a stand that you can rescind the contract signed by you, hence you should rather act in a  mature manner and avoid to be trapped in cheque bounce case............

Has the company demanded the cheques in writing and issued any receipt and/or Is it stated in any document signed by you that you are submitting cheque numbers....................dated.......for Rs...............?

If you do not owe any monies to the company then you can withdraw the cheques and demand these back in writing?

Have you ever demanded that on dated..................Mr/Ms...................designation.................name of company.........address.....................forced you to sign some pages, without allowing you to go thru it and to take the copies for consultation before signing and stated that if you don't sign at once you will be terminated...........................and after extracting your signatures declined to supply any copy despite repeated and regular demands in office........?

The Bond was created in lieu of what extra ordinary favor  by the company?

There are many threads on the same query and you may find these useful:

e.g.;

https://www.lawyersclubindia.com/forum/Non-payment-of-indemnity-bond-109189.asp#.VModmtKUcqM

https://www.lawyersclubindia.com/forum/Dealing-with-indemnity-bond-final-help-before-going-to-cat-94602.asp#.VMoeXdKUcqM

https://www.lawyersclubindia.com/experts/Breaking-the-bond-447501.asp#.VMohCNKUcqM

Since you have already done the damage now you should proceed under expert advise of your Labor Law Consultant/Service Matters lawyer, and you may show all docs on record as elaborated in these threads..............

Employees like you that do not unite and do not form employees unions and do not affiliate with trade unions like CITU,AITUC,INTUC,BMS ......................are exploited..........

Now there are many IT/ITeS employees unions too!