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Breaking a stamped paper bond

Amiti Kapoor
Greenhorn

Joined: Jun 16, 2012
Posts: 17
Recently i joined a company XYZ Ltd in SomePlace,during joining i signed a 2 years bond on a stamped paper  and next day i asked my HR to provide me the photocopy of the bond but she refused, and also i want to know does the bond hold any importance if i break it as in the bond it was written the person has to pay his 6 months salary or 1 lakh rupees whichever is higher. I am given 10000 rs per month which is very less and the work they give is vedy much , the company is also an active NASSCOM member ,so iwant to ask can breaking the bond will put me in risky situation .  Please reply as soon as possible
Campbell Ritchie
Sheriff

Joined: Oct 13, 2005
Posts: 38412
    
  23
Since we don’t allow discussion of specific companies, I have removed the name of the company from your post.
Ulf Dittmer
Marshal

Joined: Mar 22, 2005
Posts: 41574
    
  54
Presumably you knew in advance how much you would be paid, so complaining after the fact seems disingenuous. I'm not familiar with the applicable law, but it sounds as if what you propose would mean breaking a contract you've signed; in all jurisdictions I'm familiar with that would make you liable to face legal action, provided the contract was valid to begin with. This is certainly something you should consult a lawyer about, and not rely on advice by the internet population at large.


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Henry Wong
author
Sheriff

Joined: Sep 28, 2004
Posts: 18747
    
  40


In my opinion, it is more than just jurisdictions -- for example, in the united states, I don't think that these types of agreements exist (at least that I know of). In my opinion, the closest that we have are non-compete clauses, which prevents someone from quitting to work for a competitor. And in that regard, companies are having a very tough time enforcing such agreements -- unless of course, the person is so important, that the company is willing to pay a ridiculous salary for the person to not work at all.

Henry


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Jimmy Clark
Ranch Hand

Joined: Apr 16, 2008
Posts: 2187
The bond must have some purpose in this situation. Whether the organization enforces the conditions specified on the bond depend on the organization. It is surely possible that they may want you to "cough up some rupees" if you break the contract. Surely you read the contract before you signed it. Aside, before signing you should ask if you can have a copy. If the answer is "no", then you can decide if you still want to sign the contract.

They may choose to not provide copies to prevent attempts to make false copies to invalidate the true bond. If the bond has a raised seal, then it is harder to make a false copy and they should be less reluctant to providing a copy.
Amiti Kapoor
Greenhorn

Joined: Jun 16, 2012
Posts: 17
Yes the bond has a raised seal and regarding signing i live in india and to get job here is very difficult .i signed the bond with one thing in mind that i will wait for the good opportunity and when i wiil get i will switch the company . Although i an working there as automation tester , the work is very goood . But salary is very less it is 10000 rs on training after 6 months it is 13000 rs this is the only problem i have
Maneesh Godbole
Saloon Keeper

Joined: Jul 26, 2007
Posts: 10266
    
    8

Disclaimer: I am not a lawyer.

As far as my knowledge goes, unless the company has spent on training you for some skill set, such bonds are illegal as they are akin to bonded labour. If it was me I would not worry much about it. But since it is not me, I would suggest you confirm this with a lawyer, than relying on unknown people over the internet.


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Rachit Pant
Greenhorn

Joined: Aug 01, 2011
Posts: 9
One thing I can assure you is that there won't be any legal ramifications. These contracts violate labor laws in India.
However this NASCOMM thing is evil. They will make an entry in the NASCOMM registry with all details and all companies part of it will be able to see it. And its upto them to overlook it.
Yes 10k is a pittance. When I was in India starting average starting salary 4 years back was 25k.
And who says there are no jobs in India. IT companies would hire "truck-loads" of engineers. I would suggest join XYZ. Its not part of NASCOMM and its easy to get into.

Just read this today http://articles.economictimes.indiatimes.com/2012-07-16/news/32698335_1_sd-shibulal-infosys-nr-narayana-murthy
(8000 quit infosys ) which means IT job market is good as always.
Campbell Ritchie
Sheriff

Joined: Oct 13, 2005
Posts: 38412
    
  23
Rachit Pant, please read this. I have removed the name of the company you mentioned and changed it to XYZ because of that.
Amiti Kapoor
Greenhorn

Joined: Jun 16, 2012
Posts: 17
@rachit jobs might be in south side but not as much if we compare it with north india and regarding NASSCOM does it maintains the list of the blacklisted employees .because when i tried to search in their website i do not find any list .please send me the link where you got that information and the salary yes it is very less the condition of it sector has worsen as compare to 4 years ago . I am just waiting for the big opportunity but i wanted to enquire about the bond in the bond it is written that " the company can take 6 months salary or 1 lakh rs whicever is higher from the person who breaks the bond" but can it blacklist me in the nasscom directoy please verify it .

And regarding PQR they might be recruting but are giving joinings a year later that is in 2013 or 2014 or might not call for joining but still i have registered myself there twice just waiting for the call letter . Please reply soon .
Rachit Pant
Greenhorn

Joined: Aug 01, 2011
Posts: 9
NSR (National skills registry ) maintains a list of all IT employees , the project they have worked on , and other details that I am not sure of.

NSR ( initiative of NASSCOMM ) website says:
The data is 'owned by the employee'. Only the employee can authorise a potential employer to view his/her information. Confidentiality and privacy are, thus, assured.

However I am not sure , if that is really true. And I am sorry to say I do not have much information - probably if you have contacts with an HR of a large company , they might know.

The only thing i can tell you is the "contract" of staying with a company for x years/months is illegal and against labour laws.
Just tell your employers I am leaving. They know they will loose the case if they sue you.-- which will never happen.
Amiti Kapoor
Greenhorn

Joined: Jun 16, 2012
Posts: 17
@rachit thanks i went to the NSR website but i did not find my company records nor my company has given me any NSR employee id , my company is an active member of NASSCOM but they are not an member of NSR ,and regarding the bond i dont have any contact with any HR of any company , as i am a fresher so if any help from your side will be really appreciable .i am very much in tension as it is is a stamped bond like an affidavit . Please reply soon
Vikram Kohli
Ranch Hand

Joined: Nov 27, 2005
Posts: 174
Oh man, this was the assignment given to me during my Business Law course in my post grad mgmt program . I have given the wrong answer, and was awarded with negative marks.

Anyhow you fail fast and you learn faster. What Prof. told to us was as follows:-

In Indian law, there is no term called employment bond. When you sign an employment bond, its a contract between you and your employer(Under Indian contact act 1872). If you have signed the contract, it a valid and totally legal. If you break the bond(which in legal terms is a contract), you are entitled to compensate your employer with the amount mentioned in the bond(I mean contract).

If you break the contract, they may file a criminal case or civil cast against you. But big corporates avoid it for the reason that lawyers fee will be much higher than the compensation you will pay to them. Further , every one knows that in India civil cases takes too much time(you will start it and your grand kids will finish it).

So I will suggest, stay with your company and complete your contract, or if you decided to leave, be prepared to give compensation mentioned in the contract to your employer.

Vikram PracLabs
Amiti Kapoor
Greenhorn

Joined: Jun 16, 2012
Posts: 17
Thanks everyone for the replies
 
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