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How to get away from paying Bond Money
25-Apr-2023 (In Labour & Service Law)
Hi, I Am Working In IT Sector.I Left My Last Organization with 25 days Because Of Some health Reasons as it was a night shift.There Was A Bond In My Previous Employer, That I Need To Serve Company For 1 Year . After Resigning I Received A Mail That I Need To Pay 60,000 INR As Bond Money. I Said That I Am Not Able To Pay Such Huge Amount Due To Financial Barriers. I have signed 100 rs stamp paper. Is there any way out?
Private employments depends on the private agreement signed between you can the company. We have to go through the termination clause to advise you on the legal remedies available to you. If the agreement specifically states that you have to pay a bond amount if you leave the job before specific period then you are bound by such agreement. To save yourself from paying such huge amount we need to go through the agreement to find out is there any loophole in the agreement.
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Adv. Siddhant Sharma
Delhi | 200+ Answers
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