| [color=#800000]In my view, if the reason for such 'bond' is for the mutual benefit, i.e., organisation's development as well as individual's, the bond is legally valid. For example, if a person is recruited as a 'Trainee' and is given training by the organisation, it's reasonable on the part of the organisation to enforce the 'bond'. If any one has a different view, kindly keep us posted please. Tks. :roll: Hi, I agree with the view of the Sivasubramanian with regar to the Service agreements as company incures any money toward the training and any other expenses like travel and etc., for the benifit of the employee, the company has every right to recover the money by way damages by filing suits for damages in to the civil courts. Where as such damages must be just and reasonable. Regards, bvijaykk Dear Friends This is just for your kind information and clarity that service bond is nothing but "Indemnity Bond" which have mention in the Indian Contract Act and hence a legal document. It is entered in to wherein the indemnifier indemify or make the good for the loss incurred by the person for whom the indemnity bond favored. Certainly indemnity bond is enforceable and valid document but what the person is to prove is the value of Damages he/she incurred because of the act of indemnifier. Regards Dear Manoj - The employment laws in India are still silent on the enforceability of service bonds. In enforcing them the counts in India always take the view that actual cost incurred by the Employer on the Employee must be ascertained and such costd must be a part of the scope of work in the employment contract. As a result high value service bonds are not accepted by courts in India thereby restricting the freedom of employment at employee's convenience. dear i too agree with mr santanu.service bond in india are one sided ,employer has given u training and spend lac rupees on you and if you leave organisation you have to pay cost. first of all these bond are falseand secondly these bond are one sided if employer through you out than what he will pay you,these are not given in bonds. companies are simply saying that they have trained employee. tks js malik Help needed. I have signed a bond with company on company letter heaad for not joining client for 2 years after completing my onsite assignment and work for six months once I return to india. But now client and my company has some issues and client want me to join them on their payroll. bond says pay damages of 25000 US dollar if i breach the contract. but there is no legal agreement between my company and client right now. The bond signed is in india and I am working out of india. i want to know does such bond holds any legal value in this scenario. can I leave by resigning without any notice period. please let me know what should I do.
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