It shall be appropriate to show the copies of standing orders of the company, appointment letter, and bond to a competent and experienced labor consultant/service lawyer and give inputs in person and feedback on some of the questions which may help the employee. E.g.
Has the manager lodged a compliant and are there any witnesses for the manager?
Has the company issued any stinker/notice/show cause notice to employee and has it initiated any inquiry?
Has the employee submitted any complaint/minutes and are there any witnesses for the employee?
What is the ground for creating the bond and how does it justify the huge amount of 5 Lacs? Has the company incurred expenses on providing some training which shall add to specialized skill of the employee or qualification of the employee?
In the meant time you may find the attachments useful.