Hi,
I am working in a private company by name Smartplay India Pvt.Ltd from 1 year 3 months, I joined as a fresher to this company. While the company offered me & also at the time of the joining Company didn't tell me anything about the Employment agreement. After few months the Company came up with Bond letter for working minimum 2 years or else the bond amount of 3 Lac need to be submitted to company.
The current company where I am working is a service Company. Now I want to change the company to a Product Company, I have resigned for the company, but Company is asking for Bond amount.
The Condition is very critical, please reply me soon.
Regards
Santosh
From India, Bangalore
I am working in a private company by name Smartplay India Pvt.Ltd from 1 year 3 months, I joined as a fresher to this company. While the company offered me & also at the time of the joining Company didn't tell me anything about the Employment agreement. After few months the Company came up with Bond letter for working minimum 2 years or else the bond amount of 3 Lac need to be submitted to company.
The current company where I am working is a service Company. Now I want to change the company to a Product Company, I have resigned for the company, but Company is asking for Bond amount.
The Condition is very critical, please reply me soon.
Regards
Santosh
From India, Bangalore
Dear Santosh,
Bonds are valid only if formal training is provided to the employee & if that wasn't the case (assuming you can prove so) you need not to worry. Secondly, did you sign the agreement of 2 years with 3 lac penalty when the same was presented to you after few months of your employment. Probably if the bond was backdated then it might create a problem. You need to mention these things so as to receive proper response.
Regards,
Hiral
From India, Ahmedabad
204Bonds are valid only if formal training is provided to the employee & if that wasn't the case (assuming you can prove so) you need not to worry. Secondly, did you sign the agreement of 2 years with 3 lac penalty when the same was presented to you after few months of your employment. Probably if the bond was backdated then it might create a problem. You need to mention these things so as to receive proper response.
Regards,
Hiral
From India, Ahmedabad
Hi Hiral,
Thanks for the reply.
I tried to attach the document here, But it is not getting uploaded,
Company didn't gave any formal training as such. I joined the Company on july 2011, They gave bond letter later for 2 months.
After they gave I took it for few days. Later I signed in November 2011 with the date on bond as the date of joining - 22-07-2011(this is mentioned in bond)
If you feel there is nothing wrong,I can send you the Bond letter to your personal id.
Regards
Santosh K.M.
From India, Bangalore
Thanks for the reply.
I tried to attach the document here, But it is not getting uploaded,
Company didn't gave any formal training as such. I joined the Company on july 2011, They gave bond letter later for 2 months.
After they gave I took it for few days. Later I signed in November 2011 with the date on bond as the date of joining - 22-07-2011(this is mentioned in bond)
If you feel there is nothing wrong,I can send you the Bond letter to your personal id.
Regards
Santosh K.M.
From India, Bangalore
Hi Santosh,
Just check the file extension. Valid file extensions are bmp csv doc docx gif jpe jpeg jpg pages pdf png pps ppt pptx psd rar rtf txt xls zip zipx. Sending to my personal ID is not an issue but if you try attaching here you can receive proper responses from other members too.. My mail id is
But from the details mentioned by you, it seems that you are liable to complete the tenure in the company in any case as the bond was back dated and mutually agreed & signed.
Regards,
Hiral
From India, Ahmedabad
Just check the file extension. Valid file extensions are bmp csv doc docx gif jpe jpeg jpg pages pdf png pps ppt pptx psd rar rtf txt xls zip zipx. Sending to my personal ID is not an issue but if you try attaching here you can receive proper responses from other members too.. My mail id is
But from the details mentioned by you, it seems that you are liable to complete the tenure in the company in any case as the bond was back dated and mutually agreed & signed.
Regards,
Hiral
From India, Ahmedabad
Dear Santosh,
Bonds are valid in India, Bond is created with views of both parties benefit. Type of bond you are mentioning is only for retention purpose.
In most of the IT companies Bonds are signed, because fresh candidates are exposed to big platforms of software and then extensive training is provided to fresh candidates to reach upto minimum standard, with this candidates are trained to work on software as well as their market cost is increased and any software company can take them once they are trained in good companies. Here what is the benefit to the company, if after providing training, fresher’s are leaving, Hence Bonds are created and its valid. Training session are recorded in this case.
It seems your case is not similar to above, hence you can always challenge to company.
From India, Mumbai
Bonds are valid in India, Bond is created with views of both parties benefit. Type of bond you are mentioning is only for retention purpose.
In most of the IT companies Bonds are signed, because fresh candidates are exposed to big platforms of software and then extensive training is provided to fresh candidates to reach upto minimum standard, with this candidates are trained to work on software as well as their market cost is increased and any software company can take them once they are trained in good companies. Here what is the benefit to the company, if after providing training, fresher’s are leaving, Hence Bonds are created and its valid. Training session are recorded in this case.
It seems your case is not similar to above, hence you can always challenge to company.
From India, Mumbai
Yes Santosh,
That's company's fault. If you have a copy of bond you can very well prove so. But my point was that you signed the bond in November while knowing that the date was misleading. You should have not done that.
Regards,
Hiral
From India, Ahmedabad
That's company's fault. If you have a copy of bond you can very well prove so. But my point was that you signed the bond in November while knowing that the date was misleading. You should have not done that.
Regards,
Hiral
From India, Ahmedabad
Hello Santosh,
Reg training being given to you, pl note it may not be tough for any unscrupulous company to 'show/prove' that training was given--in which case the onus to prove that training WASN'T given falls on YOU.
However, irrespective of whether you were given any training or not, the very fact that the Bond was effective from a BACK-DATE would make it legally untenable. Suggest wait for the legal members to respond.
It would be good if you can try to attach the Bond again--bear in mind the inputs given by Hiral in this regard.
Rgds,
TS
From India, Hyderabad
Reg training being given to you, pl note it may not be tough for any unscrupulous company to 'show/prove' that training was given--in which case the onus to prove that training WASN'T given falls on YOU.
However, irrespective of whether you were given any training or not, the very fact that the Bond was effective from a BACK-DATE would make it legally untenable. Suggest wait for the legal members to respond.
It would be good if you can try to attach the Bond again--bear in mind the inputs given by Hiral in this regard.
Rgds,
TS
From India, Hyderabad
Hi,
I agree with you, it is a retention policy of the company.
Yes, Company can also tell like instead of training,we put you up on the Real project. I was selected for the real project after few days of joining, but before signing bond. I was forced to sign the bond in middle of project.
Now from home I am able to upload the Agreement.(I tried doing same in office, but the upload was blocked)
Also I have heard for the agreement the stamp letter amount should be Rs.100/-
Is it true????
In my case the stamp letter used is Rs.2/-(page no.1 in the attachment)
I also consulted one lawyer he told like "stamp letters should be Rs.100/- for agreements and now the Agreement with the company is done on the stamp letter of Rs.2/ - it is INVALID".
Earlier one person had joined our company and signed the bond, after 20days, she left the company, while leaving she also questioned on Bond as it should be on Rs.100/- stamp paper. Later she didn't pay any amount to company, all sorted smoothly in that case.I also asked this person, she also told the same way as lawyer.
But in my case I need to collect the Experience letter from company, to join new company. I am in dilemma like how to proceed now, since I believe the Agreement is INVALID.
Regards
Santosh K.M.
From India, Bangalore
I agree with you, it is a retention policy of the company.
Yes, Company can also tell like instead of training,we put you up on the Real project. I was selected for the real project after few days of joining, but before signing bond. I was forced to sign the bond in middle of project.
Now from home I am able to upload the Agreement.(I tried doing same in office, but the upload was blocked)
Also I have heard for the agreement the stamp letter amount should be Rs.100/-
Is it true????
In my case the stamp letter used is Rs.2/-(page no.1 in the attachment)
I also consulted one lawyer he told like "stamp letters should be Rs.100/- for agreements and now the Agreement with the company is done on the stamp letter of Rs.2/ - it is INVALID".
Earlier one person had joined our company and signed the bond, after 20days, she left the company, while leaving she also questioned on Bond as it should be on Rs.100/- stamp paper. Later she didn't pay any amount to company, all sorted smoothly in that case.I also asked this person, she also told the same way as lawyer.
But in my case I need to collect the Experience letter from company, to join new company. I am in dilemma like how to proceed now, since I believe the Agreement is INVALID.
Regards
Santosh K.M.
From India, Bangalore
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Bond of Employment.doc
Bond in employment.pdf