- This topic has 35 replies, 28 voices, and was last updated 1 year, 2 months ago by
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RI am in 4th year, tier 3 college, CSE branch. I got an offer from a startup company in Hyderabad 4.25lpa and they are asking for 2 year bond with a security cheque for 3 lakhs. They didn’t mention this in acceptance letter or during interview time, now I don’t have any other offers in-hand, was unlucky in college placements and I did not accept admissions from universities thinking I will go after getting experience🥲
I am thinking if I can sign the bond and give them the cheque under the condition that I will only have to pay if I resign and not when they fire me, and maybe start under performing once I decide to leave so that they’ll have to fire me, does this work? Or am I being delusional
Additional context:
I have plans to pursue master abroad(USA) and this job is to get experience but I feel signing a bond will restrict any future opportunities I may get.I am confused, idk what to do now. please help, any suggestions?
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KName and shame!
Start attending campus placements for better companies!
I won’t advise you to not join any company under the present market conditions, so find a way to chicken out of the bond somehow or find a better company! Start ups aren’t a good idea rn anyway.
The bond cannot be valid unless they mention it’s for some kind of a training.
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UThis is illegal, you should not join but if you still want to. Give them cheques and tell the bank to consider those cheques void. For HDFC you can do this from internet banking itself.
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PWhat legal action can OP take since this is illegal? Is there a way to report this company somehow and take action against them?
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CReport in CPGRAMS portal about this company if you have in writing they are asking you to sign a bond.
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P1. Are they giving you any training where they’re spending 3 lakhs on you? Bonds usually come only in that case
2. Usually, they don’t force you to sign a bond, you can deny.
3. If they say sign it or no job, start looking for a new job – especially because you’ve got plans to go abroad anyway-
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PYeah, you’re probably going to work on a tool or some closed source technology which is bought from some company & requires mandatory training.
Company has to pay 3L for your training. And they don’t want you to leave (after spend 3L) without the company recouping that value out of you – hence the bond
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DRecently the labour court had ruled in favor of a company that had a bond. So do not let social media fool you. If you want to leave before 2 years, do not join this company let some one else join.
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MThey cannot enforce the bond legally. As far as the cheque is concerned, give them but give your bank a stop payment instruction immediately to cancel it. Then it won’t be bounced when they try to cash it. Supreme Court has already ruled that security cheques don’t attract NI act. Let them spend on lawyers to try and litigate and spend more.
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MWell proving it would be a nightmare as it would be split amongst all the freshers, regardless, being a startup means there some novelty in the work they do and cannot be attributed general training which will just improve the skillset of employee. At this point all this is ifs and buts, bond is not enforceable, stop payment and your money is safe if they are dense enough to start litigation any half decent lawyer can get a favourable order.
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