I had been working with a company for 15 months. At the time of joining this company signed a bond from me that i have to serve them for next 3 years as they will give us training, against which I had given 3 undated and unnamed cheques. the bond states that \"As a guarantee against attrition, you are requested to deposit with us 3 post dated cheques of Rs. 30,000 each, one cheque will be returned to you on completion of first year of service, second on second year and the final cheque on 3 year of service.\"
Now I have resigned from the company by giving 8 days notice (My notice period is 30 days) also I had 17 ELs left in my account. I asked them to relieve me from services as I have completed 15 months with you then and as I am leaving before 3 years so for breaking the bond you can encash my two cheques and return me one cheque. But on the final day of notice period they ask me to pay for all the three cheques which is nowhere mentioned. I agree that I am breaking the bond but for
From India, Bhandup
Now I have resigned from the company by giving 8 days notice (My notice period is 30 days) also I had 17 ELs left in my account. I asked them to relieve me from services as I have completed 15 months with you then and as I am leaving before 3 years so for breaking the bond you can encash my two cheques and return me one cheque. But on the final day of notice period they ask me to pay for all the three cheques which is nowhere mentioned. I agree that I am breaking the bond but for
From India, Bhandup
Ganeshan,
Also note that
Article 19(1)(g) of Constitution of India confers fundamental rights on the citizens of India and this Article allows the citizens the right to practice any profession or carry on any occupation, trade or business subject to reasonable restricition in public interest.
Thus any restriction on this fundamental right of any citizen goes against the protection granted and guaranteed in the Constitution.
Tell then that their this action can hence be challenged.
Further more:
Section 27 of Indian Contract Act, 1872 states:
Agreement in restraint of trade void:
Every agreement by which any one is restrained from exercising a lawful profession, trade or business of any kind, is to that extent void.
Other similar attributions for your study purpose are:
1) https://www.citehr.com/30808-bond-le...-breaking.html
2) https://www.citehr.com/46589-employm...-services.html
3) https://www.citehr.com/5246-bond-sys...ail-india.html
4) https://www.citehr.com/25557-employe...icability.html
5) employment bond _ very urgent - Labour & Service Law Experts - Law, Lawyers, Advocates, Law Firms,Legal Help, Legal Experts,Judgements,Law Help, Indian Lawyers
6) Is this kind of employment Bond is Legal in India? - Labour & Service Law Forum - Law, Lawyers, Advocates, Law Firms,Legal Help, Legal Experts,Judgements,Law Help, Indian Lawyers
Please note that service agreements or bonds by itself are not illegal unless there was a forceful signature obtained.
Read: venghatsrinivas: Is employment Bond valid in india?
Weight your pros and cons and accordingly proceed. I would like Senior members as well to contribute. Legal advisors can be of real help.
From India, Mumbai
377Also note that
Article 19(1)(g) of Constitution of India confers fundamental rights on the citizens of India and this Article allows the citizens the right to practice any profession or carry on any occupation, trade or business subject to reasonable restricition in public interest.
Thus any restriction on this fundamental right of any citizen goes against the protection granted and guaranteed in the Constitution.
Tell then that their this action can hence be challenged.
Further more:
Section 27 of Indian Contract Act, 1872 states:
Agreement in restraint of trade void:
Every agreement by which any one is restrained from exercising a lawful profession, trade or business of any kind, is to that extent void.
Other similar attributions for your study purpose are:
1) https://www.citehr.com/30808-bond-le...-breaking.html
2) https://www.citehr.com/46589-employm...-services.html
3) https://www.citehr.com/5246-bond-sys...ail-india.html
4) https://www.citehr.com/25557-employe...icability.html
5) employment bond _ very urgent - Labour & Service Law Experts - Law, Lawyers, Advocates, Law Firms,Legal Help, Legal Experts,Judgements,Law Help, Indian Lawyers
6) Is this kind of employment Bond is Legal in India? - Labour & Service Law Forum - Law, Lawyers, Advocates, Law Firms,Legal Help, Legal Experts,Judgements,Law Help, Indian Lawyers
Please note that service agreements or bonds by itself are not illegal unless there was a forceful signature obtained.
Read: venghatsrinivas: Is employment Bond valid in india?
Weight your pros and cons and accordingly proceed. I would like Senior members as well to contribute. Legal advisors can be of real help.
From India, Mumbai
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