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MUHAMMED ANSAR V M (ACE)     15 October 2012

Service bond

 

Hello all.
I am in urgent need of your help and suggestions.

I joined on a pvt ltd  company 17 November 2009 and currently working at Mumbai, I was asked to sign a service bond of 4 years on a stamp paper and the clause states that in case I leave the organization before 4 years I will have to pay Rs.1.5 Lakh. 

 

My problem is that I am very stressed due to some family problems. I need to move to my home town at least after completing 3 year. This company will not give a transfer.



Please tell me the validity of such bonds. I am ready to pay but not fully because I amgoing to complete 3 years.

 

Awaiting your prompt and helpful responses



 1 Replies

Kumar Doab (FIN)     15 October 2012

It shall be appropriate to show all documents and records including appointment letter, bond, standing orders, service rule book, HR policy, target Vs performance sheet/record of individual-team-branch-region-zone-pan India, and if you have record of industry performance like ORG data, appraisals, appreciation letters, revenue and profits you have generated etc to a competent and experienced labor consultant/service lawyer and give inputs in person and let your lawyer evaluate the merits and suggest appropriate forum.

Has the company provided training adding to skill and qualification? Has any certificate of training been issued? Has the company provided any break up of expenses/itemized detail of expenses incurred by it? What is the ground and logic for the bond?

Has the company stated that during the bond period you shall not be eligible for any increment in wages/salary?

Has the company confirmed your services in writing? The bond may be in violation of standing orders.

The decision is to be taken by courts of law and in case training has been imparted company has to justify the expense and employee can ask for itemized detail and supporting bills in original. Company shall press for liquidated damages.

You may submit a carefully drafted gentle representation in writing with a copy to you, under acknowledgment addressed to the good office of appointing authority, MD, Company secretary narrating all representation made by you so far in person, by email, letter etc and request for transfer citing reasons in detail, and issue periodic reminders, and thus build favorable record.

You may find the attachments useful.

 


Attached File : 386878041 417759075 validity of employment bonds.pdf, 386878041 background paper.pdf downloaded: 206 times

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