Bond Settlement from previous employer.
9 months ago
I have been a part of company during 11 Jan 2021 to 2 April 2021. It's the time of covid. I was not provided asset and was attended some little training on my personal laptop. My package was 2.6 LPA. They have signed bond with me for 2 years for 1.5 Lakhs. I resigned on 2nd April with immediate effect without serving Notice Period. I want my relieving and experience certificate. Now they're are demanding 1.8 Lakhs. I was on bench and was not part of any major project. Training was also online. How can I get me documents. Kindly help me with this.
A.Dear Client,
The validity of Employment bonds can be challenged on the basis of Section 27 of the Indian Contract Act,1872 which prohibits any agreement in restraint of trade and profession. The law states that an agreement (employment bond) will be illegal only if it restrains someone from exercising a lawful profession/ trade/ business. As per the mandate of Section 27, any terms and conditions of an agreement that directly or indirectly compels the employee to serve the employer or puts a restriction on them joining the competitor or other employer is not valid. The employee has the right to resign from the employment even if he has agreed in the employment bond to serve the employer for a specific period of time. In the case where the employer is able to prove that the employee is joining the competitor to disclose the trade secret then the court may issue an injunction order restricting the employee from joining the competitor. The following are the requirements of a valid employment bond agreement. 1) The agreement must be signed by the parties with free consent. 2) The conditions stipulated must be reasonable and 3) The conditions imposed on the employee must be proved to be necessary to safeguard the interest of the employer. 4) The employment bond is to be executed on a stamp paper of appropriate value in order to be valid and enforceable. Reach out to a Corporate Lawyer experienced in the subject for guidance and steps.
The validity of Employment bonds can be challenged on the basis of Section 27 of the Indian Contract Act,1872 which prohibits any agreement in restraint of trade and profession. The law states that an agreement (employment bond) will be illegal only if it restrains someone from exercising a lawful profession/ trade/ business. As per the mandate of Section 27, any terms and conditions of an agreement that directly or indirectly compels the employee to serve the employer or puts a restriction on them joining the competitor or other employer is not valid. The employee has the right to resign from the employment even if he has agreed in the employment bond to serve the employer for a specific period of time. In the case where the employer is able to prove that the employee is joining the competitor to disclose the trade secret then the court may issue an injunction order restricting the employee from joining the competitor. The following are the requirements of a valid employment bond agreement. 1) The agreement must be signed by the parties with free consent. 2) The conditions stipulated must be reasonable and 3) The conditions imposed on the employee must be proved to be necessary to safeguard the interest of the employer. 4) The employment bond is to be executed on a stamp paper of appropriate value in order to be valid and enforceable. Reach out to a Corporate Lawyer experienced in the subject for guidance and steps.
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A.Dear client,
They can't demand 1.5 lakh for giving you your certificate. It is your right. Please file a complaint before the labour commissioner. He will definitely assist you
They can't demand 1.5 lakh for giving you your certificate. It is your right. Please file a complaint before the labour commissioner. He will definitely assist you
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