As we all know that now a days companies are forcing to sign bonds , my question is that are these bonds are leaglly enforceable in courts & can company refuse to give the relieving letter if we breaks the bond by leaving the company before the stipulated time. what should be our action ??
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Enforcibilty of Bonds or service agreement
Replies (2)
can anyone pls reply to my query above????
Hello Mr. Sharma,
Bonds executed on a stamp paper between company and employees are valid in the eyes of law.
It's an contract whereby you agree to the terms mentioned therein. It normally contains following clauses on consequences when you violate the terms mentioned there:
- you can be sued by the company
- claim for compensation
- repairing the damage
- non-relieving
- holding your final papers
These terms are decided by the management according to their requirement and would be valid if you sign your acceptance while accepting the job offer.
Regards
Bala
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