Are employment bonds legal in India - joined a company signing an Rs. 20/- stamp paper bond

Anonymous

I have joined a company signing an Rs. 20/- stamp paper bond stating the I should work in the company for 2 years and if I am not supposed to work I shall pay a sum of Rs. 2 lakhs to the company. Can anyone please help me to know if this bond is valid or not, I am really unsatisfied with the company?
18th November 2020 From India, Chennai

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sanjeev.sharma1010@gmail.com

Hi, Employment bond is not applicable in any type of employment in India. they are creating a fear in front of use with bond so that you will not leave the job in next 2 years .
18th November 2020 From India, New Delhi

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Are employment bonds legal in India - joined a company signing an Rs. 20/- stamp paper bond

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