What happens if an employee breaks a bond?
1. The company may not sue you if you break the bond as it will not be successful in recovering any money from you through court order. 2 The company may send you a legal notice as part of their pressure tactics. If they do not give certificate despite the notice You should approach the court.
What happens if you resign before bond period?
Generally, firm/company do not act for leaving job before bond period. If your firm is mailing you on this then do not panic, you will not face any criminal prosecution for this like arrest. You only need to consult a lawyer in pune who practises in labour court there then contest the case in labour court.
How do you resign with a bond?
READ: Are Employment Bonds Legal In India? For example, if your bond if for 1 year and you want to quit after 6 months, you must notify employer via a written resignation and get a written waiver on the bond or approval of resignation and MUST comply with the notice period.
Are employment bonds enforceable?
Employment Bond Employment bonds are employment agreements with negative covenant. Under the Indian Law, the employment agreements with negative covenants is valid and legally enforceable if the parties agree with their free consent i.e. without fraud, coercion, undue influence, mistake and misrepresentation.
Are employment Bonds legal?
Is paying bond amount necessary?
If this is the situation then you should definitely required to pay the bond amount because the reason behind this is that firstly it is written in the bond agreement that if you won’t pay the amount then you will be blacklisted from 5 mentioned companies in the agreement for 2 years I guess.
Can I quit my job if I have signed a contract?
Originally Answered: Can I quit a job even though I signed a contract? Yes you can, check the labor law of your country and in most of the places employers cant force employees to continue if they don’t want too but you may have to pay them some amount. Read your offer letter and consult take some legal advice locally.
What happens if you don’t pay the bond amount?
You have to pay compensation if you leave the company without serving bond period. Employment bonds are not generally enforceable in court as such bonds amounts to penalty which is not permitted under Indian Contracts Act. However, the court may award damages for recovery of training costs.