Hello friends, I want some help regarding Notary Bond. I have been signed 2 years - 50,000 bond at march-06 and board was on 50rupees stamp paper at Notary. Now through this month I broke this and joined another job. This bond is a service bond and only one-sided - means if I leave or the company leaves me then on both sides I lose. so please help me about this matter.
From India, Mumbai
From India, Mumbai
Hi ,
My Friend
I have spoken to a Lawyer, these Notary Bonds or any kind of bonds have no capacity to stop the employee to leave the organization, coz my lawyer said "Every person has right to prosper, Like employer prospers , employee to can prosper, no use of such bonds.
TALK TO ANY GOOD LAWYER REGARDING THIS ISSUE.
Regards,
Rohini
From India, Pune
6My Friend
I have spoken to a Lawyer, these Notary Bonds or any kind of bonds have no capacity to stop the employee to leave the organization, coz my lawyer said "Every person has right to prosper, Like employer prospers , employee to can prosper, no use of such bonds.
TALK TO ANY GOOD LAWYER REGARDING THIS ISSUE.
Regards,
Rohini
From India, Pune
Hi
What is important is not the stamp paper or the notary endorsement on it.
Need to look at for what purpose the bond has been entered into. You have not provided any details about the content of the bond.
If employer enters into an agreement to provide specific skills by investing certain time and money, he can enforce such a legal bond - i.e. ask the employee to pay back the cost of the specialized training provided or work for the period as specified to recover the cost as per the bond.
So, suggest you to meet a lawyer with the bond and seek his opinion.
Regards,
AM
From India
What is important is not the stamp paper or the notary endorsement on it.
Need to look at for what purpose the bond has been entered into. You have not provided any details about the content of the bond.
If employer enters into an agreement to provide specific skills by investing certain time and money, he can enforce such a legal bond - i.e. ask the employee to pay back the cost of the specialized training provided or work for the period as specified to recover the cost as per the bond.
So, suggest you to meet a lawyer with the bond and seek his opinion.
Regards,
AM
From India
hello friends, this is right to contact a best lawyer but I want to know that what action should be company take against employee. and only one sided bond is valid or not. blacklotus
From India, Mumbai
From India, Mumbai
I agree with Mr. Mutyalu. Also, please note that if you have committed to do something and have not done as an employee, it is better to go by what you said at the time of singing the bond.
Though the bond may not have any legal implication, if you are conscious about your leaving without paying the amount, then it is ok!
Regards
Sathyamoorthy iyer
From India, Madras
Though the bond may not have any legal implication, if you are conscious about your leaving without paying the amount, then it is ok!
Regards
Sathyamoorthy iyer
From India, Madras
HI, i am very new to this site.
I have recently had a person trained into CNC machines and fear he may quit the job after it.
I want to have a bond signed by him stating that he would work with my company for the specified period of time or pay the costs incurred in training.
For this should i go in for a Notary bond?
Would he be able to quit the company even after the bond. I even agree to mention yearly increment of certain % for that period.
Kindly suggest me a suitable bond.
Thanks and Regards
Sanil
From India, Bangalore
I have recently had a person trained into CNC machines and fear he may quit the job after it.
I want to have a bond signed by him stating that he would work with my company for the specified period of time or pay the costs incurred in training.
For this should i go in for a Notary bond?
Would he be able to quit the company even after the bond. I even agree to mention yearly increment of certain % for that period.
Kindly suggest me a suitable bond.
Thanks and Regards
Sanil
From India, Bangalore
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Bond letter.doc