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Bonded labour as I signed a training agreement with a MNC for 2 years?
12-Sep-2023 (In Labour & Service Law)
I have signed a training agreement with a MNC for a period of 2 years....do i need to pay the bond amount if i leave it during the training period...
Bonded labour is very different from Employment Bonds. Bonded labour is illegal. If a company is going to take the trouble of training you or assisting you academically, and will incur expenditure for it, it may enter into an employment bond with you. As it is a private contract, it is governed by certain laws such as the Contract Act and the Company's policies. Hence as long as the terms and conditions of the Employment Bond are within the parameters of the statutory provisions, it is legal. Please make sure you satisfy yourself with the terms and conditions of the Employment Bond because if you cannot abide by it, you may face penalty etc. Better to understand it first and then sign.
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