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Employee Contract Laws

mehta.devangi - Member Since: Jul 2010
Subject - Employee Contract Laws
Hi,

I have a few questions regarding the Contracts / Bonds that private IT companies make their employees sign:

-> Can the company keep original marksheets / documents as security for those bonds.
-> Is there any law regarding the term of the notice period.
-> Is the contract applicable only to the employee or employer too - For example: If a company makes an employee sign a bond of Rs. 1,00,000 for a period of 2 years with a notice period of 3 months, can the company fire the employee without the notice period and compensation

Thanks & Regards,
Devangi
cyril Full Member - Member Since: Nov 2008
Subject - Re: Employee Contract Laws
Hi,

1. Many companies follow this practice. I personally donot approve of this practice.

2. To my knowlege the notice period is govenrned by the contract of employment

3. It would not be appropriate to do so. The notice must be given or payment made in lieu of the notice peroiosd.

Cyril
anijesh - Member Since: Sep 2010
Subject - Re: Employee Contract Laws
Dear proffnals....

This is kannan, anybody can let me know the basic legal formality for Contract labours in Manufacturing unit...


Urgent,,

Kannan.M


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