What happens if I break the bond
11 months ago
I have joined as a fresher in a software company and had signed a bond for 2 years. In the agreement,they had mentioned that th bond is valid for 2years and if we resign before that period,we will have to give 2lakh rupees as compensation.We have signed the bond voluntarily at that time,but a fter initial month traing,when I joined our respective projects, I came to know that there is a lot of workload and also no work life balance and also they are providing lesser salary than they had mentioned in the offer letter. Now I had only completed 8 months here.But I wish to resign from the job. So shall they take any legal actions if I didn't pay the bond.
A.Dear Client,
On your acceptance of the conditions of your employment, you are duty bound to compensate the Company on breach of any condition, Bond executed by you in compliance with the condition precedent to your employment So if you leave the company before the bond period you have to pay the compensation as stipulated in the Bond and for breach or for non-compliance of said condition, you have to face legal consequences if the company sought legal action for specific performance under the Specific Relief Act, 1963. So, considering your career prospect the matter need to be negotiated and resolved.
On your acceptance of the conditions of your employment, you are duty bound to compensate the Company on breach of any condition, Bond executed by you in compliance with the condition precedent to your employment So if you leave the company before the bond period you have to pay the compensation as stipulated in the Bond and for breach or for non-compliance of said condition, you have to face legal consequences if the company sought legal action for specific performance under the Specific Relief Act, 1963. So, considering your career prospect the matter need to be negotiated and resolved.
Helpful
Helpful
Share
Read Related Answers
Difference between pf deed executed on annexure
Dear Client,
Your query requires more details to address it suitably. It is a virtual platform where in the absence of a specific cause of action suitable legal remedies cannot be suggested based on...
Commissioner sir force me to do risky work of demolition as contractor
Dear Client,
In the prevailing situation, you can escalate your grievance before the higher authorities explaining your constraint or inability to comply with the order of demolition of the building,...
Delay payment
Dear Sir,
Better approach Police and get an undated cheque for the said amount with interest etc. If you go to the court on agreement it will be a civil case as such you have to spend lot of money and...
Termination of contract
Dear client,
Please verify with the terms and conditions of the contract verify with if the project has been suspended temporarily or permanently. you can send a legal notice to the company for breac...
West Bengal Tender for Fortified Rice
Dear sir
You may challenge negative order either before higher authorities or by approaching civil court or High court.
Read Blogs on Contracts and Agreements
Contracts and Agreements Lawyers
Find Lawyers by Location