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Author Topic: Is signing of Bond legal in India?  (Read 274 times)

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Offline shwetaj6

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Is signing of Bond legal in India?
« on: June 15, 2016, 11:11:14 PM »
My company has asked me to sign a bond of 50K for 2 years. If i leave the company earlier than 2 years then i have to pay the company 50K. Is signing of bond legal in India?

Offline riteshmaity

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Re: Is signing of Bond legal in India?
« Reply #1 on: June 16, 2016, 07:24:55 PM »
No. It is illegal. A company cannot stop its employees from leaving the service and joining a competitor for his own betterment, as per Supreme Court.

At maximum a company can recover the actual amount spent on a special tanning given to the employee, if any, through this bond and/ or agreement.
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