What consequences can i face if i break company indemnity bond?
I am presently working in noida, at the time of joining the company made it mandatory to sign indemnity bond of 2 lac for 2 yrs. I have completed 1 year till date and now i am getting a new and better offer. My doubt is that should i go for the offer? What consequences can i face? There was no money spent on my training. I am also having issues with the management of the company as the salary is not paid on time. Please advice what consequences can i face and how can i safeguard myself from it?
No employer can bond any employee by any bond,the legal system of India clearly abolished bonded labor system long back,and under no circumstance no person can bound other by any contract to waive of his legal rights guaranteed under the constitution of India,Article 19 guarantees the right to work and this right neither can be waived of by the employee on his own will nor the employer can force any contract in contradiction to above mentioned article
However employer can bond his employee for payment of any expenses incurred by the employer as part of training provided to employee, but this training should be provided to an employee by the employer for any other purpose than increasing his productivity in the organisation as an employee
So we suggest you to resign on the ground that salary is not paid on time and thereafter wait for companies response.
If your company ask you to pay the bond amount, then you are required to pay the said amount only if your received the training.
Otherwise, we suggest you to send a legal notice through a lawyer thereby demanding your salary and for closure on F&f
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