Legal Question in Employment Law in India

I need advice regarding an employment bond, wherein the employee has been asked to serve for a period of 2 years, failing which he has to pay an amount of 1 Lac, 1 month's salary (in case of no notice period) and any other damages or liabilities if he wishes to resign (for any reason whatsoever) from the employment. The company is not entitled to prove that 1 Lac was spent in induction, training, on the job training of employee.
The company can on the other hand terminate the contract without giving any reason, by giving a one month notice period or one month's basic salary.
The company can also terminate the employee services in case of misbehavior, under-performance with one day's notice or one day's basic salary.

Asked on 7/10/13, 3:04 am

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10.07.2013

Dear Sir / Madam,

An employment bond is draconian, against the principle of natural justice and illegal.

Acceptable term and condition of service contract.

Acceptable term and condition of service contract if established with adequate evidence.

Regards,

Answered on 7/10/13, 11:00 am

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