I have signed a one year bond of Rs. 1 lakh with my current company which is of 2 years. the company is situated in Ahmedabad, Gujarat. Now I am no more interested to work with the same company do to some reasons. I have completed 1 year in the company.
So my question is how far this bond is legal in terms of keeping me to work in the company.
and if I break the bond, will I have to pay Rs. 1 lack as a liability?
Please advice me on the same.
Your response will be highly appreciated
Asked 4 years ago in Labour from Ahmedabad, Gujarat
Yes such bonds are legally enforceable, also please tell me as to whether you have given any cheque or not in lieu of the bond. However, you can always leave the company after serving the notice period as stipulated in the service bond.
Advocate, New Delhi