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Employment bonds: Should YOU be scared?


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abcd efg
indemnity
by abcd efg on May 12, 2011 07:30 PM

Indemnity clause is more legitimate than a bond clause in contract as mentioned in article.
Also, sometimes the amount can be imposed as penalty and not liquidated damages, which is also valid..what say!

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VijayBhaskar R
employees
by VijayBhaskar R on May 08, 2011 11:20 AM

Employees are in most of the case at the receiving end, beggars are not choosers that is what is the attitude of management in most of the companies. New joinees sign a bond out of circustantial influence, their desparacy for a job, something needs to be done so that both the management and the employees are in a win win situation.

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PO
.
by PO on May 08, 2011 11:15 AM

Employment bonds are illegal/unconstitutional in India


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Tom Dick
Employment bond.
by Tom Dick on May 07, 2011 10:53 AM

Asking for a bond from employees is akin to bonded labour which is illegal in this country. Having said that, a company spends a lot of money and time in recruiting and training a green horn and if he/she decides to desert them after a month or two (or before the company could realise the amount they spent on him/her)is worrysome. So a middle path is what should be opted for.

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pritimaya patro
THIS ARTICAL IS ONLY FOR SOFTWARE COOLIS
by pritimaya patro on May 05, 2011 12:49 PM  | Hide replies

THIS ARTICAL IS ONLY FOR SOFTWARE COOLIS.

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Tushar Kapoor
Employment Bonds
by Tushar Kapoor on May 05, 2011 10:48 AM

If a survey is conducted more than 60% of employed perople would tell that they suffer at the hand of their employers being asked to work for obnoxious hours ,the 10-5, 9-6 or whatever timing is just an illusion, for 6 days a week (many times sundays are also included on the pretext of emergency). But try asking for a leave or raise...and all hell breaks loose.... If this is not slavery what else is.... Time for some strict and stringent law to pevent the rampant goondagardi of the employers

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PO
And
by PO on May 04, 2011 02:52 PM

Bonds are illegal in India

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true indian
My salary pays salary in 18 to 20 of every month
by true indian on May 04, 2011 11:54 AM

My salary pays salary in 18 to 20 of every month just to avoid ppl from going to other company

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saddy san
Govt does this too
by saddy san on May 04, 2011 11:52 AM  | Hide replies

Armed forces has such clauses right from the beginning. i.e. if a new recruit intends to leave the employment early he needs to pay the huge some of amount, the amount armed forces incur on training.
So if corporates are doing so why should we crib?
I work in IT sector, here only freshers are asked to sign such contract. Fresher's are giver 3-4 months of training. Is it unreasonable if companies expect the new recruit to pay the cost of the training if they want to leave the organization?
Not in my opinion, specially when armed forces are doing so.

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R A
Re: Govt does this too
by R A on May 04, 2011 12:00 PM
my friend armed forces really train, the cost of an mig and the related hours is quantifiable. it companies hardly train, it happened with a colleague of mine who was told that work he got to do was all training, so I got him to go back and ask why he was penalised for a problem in the past like in a project, after all he was training, HR had no answers, so if he had gone to court they would have a tough time, but the guy was a nice guy, he too the penalty of a bad appraisal for a problem that happened only to be told that was all part of training later when he decided to quit ;-)

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saddy san
Re: Re: Govt does this too
by saddy san on May 04, 2011 12:11 PM
Well there may be few exceptions but big IT companies in India do provide quality training. Take for example Infosys, they have a dedicated training center in Mysore where freshers spend 3-4 months to undergo various trainings.
Secondly the example of Armed forces was more from the conceptual point, that is employment bond as a concept is not bad.

Yes there may be some small firms misusing it for forcing employees to work on lesser salary. But if employees of these firms break such contract, I doubt these firms will have guts to pursue legal actions.

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Anne B
Re: Re: Re: Govt does this too
by Anne B on Nov 12, 2013 08:59 AM
Food for thought!
The so called \'small IT\' companies too take the pain of recruiting them,explaining them all the conditions,terms and putting them in live projects.And you really believe that employees are losing?Believe me, what they receive is immense experience.And remember one significant thing too no other company offered them a job as a fresher when the small IT company did.

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R A
Re: Govt does this too
by R A on May 04, 2011 12:01 PM
my friend armed forces really train, the cost of an mig and the related hours is quantifiable. it companies hardly train, it happened with a colleague of mine who was told that work he got to do was all training, so I got him to go back and ask why he was penalised for a problem in the past like in a project, after all he was training, HR had no answers, so if he had gone to court they would have a tough time, but the guy was a nice guy, he too the penalty of a bad appraisal for a problem that happened only to be told that was all part of training later when he decided to quit ;-)

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