[satman]

Hi Guys,

I've signed a one year, one sided bond with the company i'm working for rite now and the bond says that i need to pay back the CTC for the remaining period from the time i break the bond....

I'm not at all happy with the work in this place and am looking out for new openings....I'm a marketing guy....

What are the legal implications if i break the bond and join a new company? Does this have a strong stand in court just in case the company files a case?

I heard from a friend that someone at TCS had broken the bond and joined sme other place....TCS filed a case but lost because the court came up with the verdict that no company can hinder an individuals career growth.....Hw true is this...

I need u to throw some light into this query....

satman...........

[nihit]

hi..

well donno about that TCS case, But ya thats true than no company can make u work compulsory. In India where Democracy is there we are not bond to any 1. Even when i went to interviews through Consultancy ppl i asked the same thing to them about the bond and its ill effect, so they told me that dont worry bonds are just to say and if u break the bond also than also nothing will go wrng as if company files the case against U they will onli loose it.

[sda]

This is true. According to law (as far as I know), no one can impose a bond on you. Its not legal...............but please go through the document completely. There might be some inner implications which may turn out to be complications when u leave..........So be careful when u sign any such thing. As such, a simple bond, specifying that U can't leave the company for one year etc etc is not legal.

sda
PS: All this is told to me by a person pursuing his law degree. Please check it with some other authority also.

[doofus3]

which company are you working for dare i ask?

well heres what i think :

1. bonds donot have total legal standing in india

2. if you are in a bond you are free to leave the company but then they wont give you the reliving letter and other crappy documents you are supposed to have.

3. other companies might take you based on your salary slips but some may be relutanct coz if the original company sues this company then you+company are in a fix

4. bond is generally coz these ppl claim that they train you , have invested in your blah blah. but i nwipro,infy,tcs its more of training a whole bunch of ppl so that even half of the leave still you have the rest and go on recruiting more retards!

my take... ditch your current job. see if the other guys can take you based on ur salary slips.

l

[64BitWhore]

You might want to find a new job and get the new offer letter in hand before quitting your current job.

You are extremely unlikely to get any documentation of any sort to prove that you worked there. At worst, in the future you will be unable to satisfactorily prove that you worked there (during any interviews etc.)

Once you join a new company, they generally won't fire you just for documentation. That is a HR formality and most companies are lax about it.

At the current job, you could stand to lose current dues, like unpaid salary etc.
So factor that in while negotiating your new salary.

If you have outstanding loans with the current company, or any deductions towards loans in your salary slip you will have to clear it.

If you have a PF account with the Govt. you will not lose that money. You can transfer the account or close it and get a new one from your new company.

And no, you won't be forced to pay the remaining CTC.. no legal basis for that.

As a sidenote, I can't find a logical basis for that either since they have not spent 12 months CTC on your training (I'm sure).

So happy job hunting!

[satman]

Thanks a lot guys......Ur inputs have really thrown sme light into the whole matter...I'm basically a marketing guy....but smehw ended up dng sm back end work and this is definitely not gng to add any value to my CV....so I'm on the luk out....

Hey yu all...Once again....Thanks a million...God Blesss.....

[enigmaticvision]

Hi Frnds,

Thanx a lot to all of you who participated in this discussion.

Can some one please put the TCS case or any other case documents(legal document) by which company lost the case,

Regards,
vivek Kumar
+91-9731302040

[vijaysubbian]

Hi
recently i have signed a bond with company for 1.6 yr.because of their urgency they made me to sign a bond even before i relived from my prev company and they asked to join immediately after reliving from the company.the bond includes 1lakh payback if i leave the job before stipulated period.they have stated in the bond it's for the training they going to provide for me.they gave an induction on project i'm going to handle.actually it is reverse-engineering project(i hope reverse engineering is also offense)i'm not willing to do that and my current employer is also not willing to relive me.so i decided to stay back.

my question is ,is it possible for them to take any legal action against me.but i have not taken any training from them,not submitted any reliving letter,document etc..,only i signed a bond.

it might be a peculiar case.. help me

[winner_iima]

I wish to know that whether one needs to pay back the money only to get the experience certificate.

If someone doesnt want the experience certificate, can s/he walk away without paying the bond money.

what are the implications then?
will the company sue the person and ask him to pay the money along with the interest for the delay ??

[winner_iima]

the discussions in the thread seem to be of the time wen the bond system had just taken off in some companies.

I think much must have changed in the fine print of the bond agreement so that the companies dont lose out on the money.