BSNL JTO Bond Agreement

Hello sir, I am Akshay Verma. I am from New Delhi. I want you to help me by giving me some information about the Bharat Sanchar Nigam Limited (BSNL) Junior Trainee Officer (JTO) agreement terms. Can you help me?

[Shaleen]

As you have asked about the Bharat Sanchar Nigam Limited (BSNL) Junior Trainee Officer (JTO) agreement terms, I am giving you information about it, I am mentioning some of them
BSNL will provide training, the nature and duration of which shall be determined by the Chief General Manager Telecom (herein- after referred to as the CGMT) whose decision in this behalf shall be final and binding

The trainee shall

(A) Undergo the course of training at any BSNL Training Centre, selected from time to time by the CGMT.

Undergo such training at the said places with due diligence and comply with the instructions of all authorized officers in regard to training and discipline at the said places.

The trainee has agreed with the company that after completion of the training, he/she shall serve BSNL in such department or departments at such place or places in India in such capacity in connection with BSNL's business as BSNL may require from time to time, for at least five years after completion of aforesaid training, on terms and conditions contained herein after and in accordance with the Rules and Regulations of BSNL as applicable from time to time to such trainees.

The BSNL has' called upon the trainee to furnish a Bond to the extent of Rs.2, 00000/- (Rupees Two Lac only) against all losses or damages which the BSNL may suffer by reason of the breach of the terms of this agreement by the trainee.

THAT during the period of this Agreement, the trainee shall conform strictly to all Rules, regulations, instructions, bye-laws, etc., of BSNL and work diligently and faithfully and obey all lawful commands of his seniors.


BSNL JTO Agreement terms

Trainee & Surety have further agreed that they are jointly or severally shall pay forthwith to the BSNL on demand an amount of Rs. 2,00,000/- (Rupees Two Lac only) as Bond amount along with the interest @18% p.a., which BSNL may suffer by reason of the Breach of the conditions of the Agreement and upon the trainee and/or the surety making such payment, the above written bond shall be void and of no effect, otherwise it will remain in full force and virtue.

1)what does the 18% p.a. in the above statement mean? When this interest starts building up?
2)So for a candidate who has signed a bond agreement of atleast 5 years of service but is leaving the company after 1 year of service, what is the bond amount he is supposed to pay at the time of resignation?