Shayan Khan (B.com) 06 February 2012

Employement bond

Hi friends,

If a Person has signed an employement bond at the time of entering into the Job with the company and later on, due to some harrassment and unnecssary pressure by some middle level persons, that peson leaves the job without serving notice period and without payment of bond money (which is Rs. 150000), in that case, wht could be the reasons to be escaped from that company. Does the company really recover the money from the employee?? what if that persons is not financially capable for the payment of Rs. 150000??

I will appreciate a valuable suggestions from You.

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3 Replies

Sanjeev (Lawyer) 06 February 2012

Comapanys usually dont go legal as the cost of recovery is more for them than the bond amount. They normally issues letters/notice to pay the amount due but dont go beyond that.

The relieving letter is never provided by companies in case the employee dont settle the due amount.

Rama chary Rachakonda (Secunderabad/Highcourt practice watsapp no.9989324294 ) 06 February 2012

Nearly 5 years back Satyam computers filed several petitions in the courts of law against their employees about the non fulfilment of bonded agreements

Kumar Doab (FIN) 06 February 2012

It is understood that Satyam and Patni proceeded against the employees and they get airtight documents signed from their employees.

The employee must record (audio/visual) and submit in writing under acknowledgment, the unreasonable, unfair, conduct, and harassment inflicted by employer/line management etc This shall build a favorable record to establish that employer is unworthy of being employed with, and bond was being flaunted at the employee and employee was treated badly.