Legal Question in Employment Law in

I had signed a Bond with the company with condition that I have to work for atleast 3 years after successful completion of probation period (2 years). I served for 3 years and 10 months (including 2 yrs probation). I resigned from the company with due notice of 20 days.

Now the company has issued me a notice to payback entire salary earned by me during that period. Does the below bond language stand the Indian Civil Law of the Land.

Know all men by these presents that we (i) Shri ������. residing ���������� at ���� with present address at �����. selected for appointment as MANAGER and (ii) Shri ������.�. residing �������at ���� with present address at ��������� presently employed in the office of ������.do hereby bind ourselves and each of us, our and each of our heirs, executors and administrators to pay the CHAIRMAN, his successors or assigns on demand the sum of Rs. Ten Thousands only. Signed and dated this day of ��������

Whereas the above bounden ������.(i) is appointed to the post of MANAGER in the COMPANY.

Now the conditions of the above written obligation is that in the event of the above bounden ������.. (i) leaving his service under the company as MANAGER or in the event of his refusal or failure to serve the COMPANY if so required for a period of three years from the expiry of his period of probation whether as MANAGER or in any other employment indicated by the COMPANY the bounden �����.(i) and �����(ii) shall on demand refund to the CHAIRMAN his successors or assigns all moneys paid to the above bounden �����(i) or expended on his account in respect of his probation and appointment as MANAGER and in the matter of deciding as to that money are so to be refunded the decision of the COMPANY shall be final. And upon the making of such refund, the above written obligation shall be void, and of no effect otherwise it shall remain in full force and virtue.

Provided always and said above written obligation is entered by the above bounden ����.(i) and ����.(ii) on the further condition that the liabilities of the above bounden �����.(ii) shall not in any way be impaired or discharged by reason of time being granted or for any forbearance, act omission on the part of the CHAIRMAN towards the above bounden ������. (i) whether with or without the consent or knowledge of the above bounden ����.(ii) nor shall it be necessary for CHAIRMAN to sue or take action against the above bounden �����.(i) before suing or taking against the above bounden ������ (ii) and it is further agreed and declared that stamp duty , if any , payable on the documents shall be borne by COMPANY.

In witness whereof the said ���.(i) and said �����.(ii) have set their respective hands the day and years first above written.

1 Answer from Attorneys

Related Questions & Answers

More Labor and Employment Law questions and answers in

Looking for something else?