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Being asked to sign a BOND

Vicky Jain
Ranch Hand

Joined: Aug 02, 2003
Posts: 52
Hi All,

As the part of MCA-curriculum, I was working with a company from last six months as non-stipend trainee. Now they are asking me to sign a 2yrs bond (including this training period), for being considered as the employee of the company.

Are these kinds of bonds legal?
I'm still in doubt, whether to fill it or not, coz I won't be getting any releaving if I leave the company before 2 yrs.

Please help me deciding what to do. Any suggestions on this are Welcomed!!

Thanks


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Tim Holloway
Saloon Keeper

Joined: Jun 25, 2001
Posts: 16141
    
  21

Depends on whose laws you're working under. Could you specify what country/locality this agreement would be in effect for?


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Vicky Jain
Ranch Hand

Joined: Aug 02, 2003
Posts: 52
Could you specify what country/locality this agreement would be in effect for?


Thanks for pointing it out.
W.r.t previous post, I am working with a company at New Delhi, India.
I was just forgot to add that too.

Thanks
Tina Desai
Ranch Hand

Joined: Mar 13, 2003
Posts: 365
1. You have already worked in that company for 6 months.
How was it? Will you like to be there for 1.5 years more?
2. Has anyone already on contract in there? Discuss with them.
3. Get the contract document verified by a lawyer, if u can.

Tina


Alongwith being a good coder, try to be a good professional as well!
Vicky Jain
Ranch Hand

Joined: Aug 02, 2003
Posts: 52
Hi Tina,

Thanks for your suggestion.

Yups, this company is fine & I have been allotted a good project with a big client in picture. But the main thing is that this company has almost no internal job rotation policy and I don�t want to be type casted with some kind of work.

That�s why; I may plan to leave the company before 2yrs.

I have talked to couple of guys from other projects. They have already signed this contract and they told me that such kinds of contracts are one-sided bonds & they are not legal. At the same time, they are saying that you wont get any releaving if you left the company before the completion of bond period.

The only thing I'm worried abt is releaving....
Leena Diwan
Ranch Hand

Joined: Jun 18, 2001
Posts: 351
Can u pls explain what do u mean my illegal bond?
A bond means u cannot leave for a specific time. And if have to leave before that, you pay the company some x amount already specified in the document. If u comeplete the specified time, u and the company are not bound about anything.

Now Indian companies do not incorporate the clause - if company breaks the bond, you get x amount. If someone is unaware or desparate for a job, s/he can fall in trap here.

Leena


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ramya
Greenhorn

Joined: Sep 12, 2004
Posts: 1
hi guys....help me

i resigned my last company and joined in new company...now my old employer is threatening me, to pay the bond othrwise he ll go for legal action. some people say that these onesided bonds are not valid and some say it is risk if the employer takes serious action.
now plz tell me these bonds are legal...? can we escape from these bonds...? does that effect my careeer...?
 
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