Validity of Bond/ Service aggrement, on 10 Rs. stamp paper.???
Dear All,
I am Engineer, I have joined in an Ltd. automotive industry, at the time of joining they have signed a aggreement mentioning that ” employee will be liable to pay Rs.50k, in case he leaves the org. within 1 year” the same agreement was signed on stamp paper of Rs. 10.
My question is, whether such agreement is valid in India?
Can company recover from me such amount??
They have not even given me releving nor my last month salary(not even full & final).
Can i revoke agreement saying its not legally valid.
I would appreciate if any one can guide me in this issue.
If you required I will send you the scan copy of that service contract(pls provide me your mail id).
Thanks to all in advance.
Awaited of some kind of positive response from you all.
Regards
Ashish Kr Singh
2 Replies
Hello Ashish,
The agreement should be examined for a considered opinion. However, the following are certain.
[li]The agreement is valid under law;[/li]
[li]There are different views of courts on such agreements;[/li]
[li]you need to issue a notice to the employer about non-payment of salary & other grievances you have;[/li]
[li]you will have an opportunity to defend the case, if your employer approaches the court with the agreement;[/li]
[li]it could be a civil proceedings[/li]
pls find the contract signed by me.
pls advice me, how I can sort out this problem easily.