Is this void Employment bond ?
Below are the exact points of the bond which i had signed in my previous org. I had signed it for the period of 18 months and i left the company within 6 months, now company has filed case against me and asking me to pay full amount of bond. He has not provide me any training when i was working with them. I started working on the 1st day itself. Kindly suggest me here.
1. I have been offered employment by company xyz, since 5th day of june 2015 and I am currently designated as BDE
Company xyz, has proposed to impart training to me in various softwares for getting further experience in the same . Company xyz is going to meet all expenses for my training that are estimated to be Rs. 2,00,000/
2. Since Company xyz incurs such an expense on me, I hereby commit that I continue to serve Company xyz for a period of at least 18 months from today in terms of the condition of my service agreed upon. If I discontinue my service with Company xyz for any reason whatsoever before 15th January 2016, this bond will continue and be binding in full force and effect and I commit to pay the sum of rs. 2,00,000/ . I hereby undertake that I shall not disclose any confidential information of the company to any third party. If I found guilty of leaking confidential information of the company, I shall be liable for legal action as per criminal law of land
3. Any extra leaves taken beyond the permissible limits of the company policy will be added to the bond period.
4. I hereby issue a cheque no. 00 favouring Company xyz for Rs. 2,00,000/ with interest @14% P.a. Company xyz may deposit the cheque and recover the bond amount, if I discontinue service with Company xyz before 15/06/2016. I hereby undertaken that I shall not leave the job before completion of the bond period, by if any unavoidable circumstances arises, I shall reimburse the amount mentioned in the para no. 3 or the company shall deposit the cheque issued by me at the time of appointment to recover the amount.
5. For any reason whatsoever if Company xyz decides to part ways / terminates you then this bond will cease to exist.
6. For any disputes arising out of this bond Mumbai ( Maharashtra ) will be the jurisdiction and will be governed by the law of mumbai jurisdiction.
7. I have read the content of this bond and signing this on my own wish and accord without any pressure of force from anyone.