What is it???
NEVER heard of it in Ireland.
Saw it on a pakistani job description. The terms n conditions specified that the selected candidate would have to give a surety bond of 2 lakh???
PS: Where is Kaun bhai??? =(
Re: 2 Lakhs Surety Bond?
its just like bail you put in court for convicts. You fill bond of certain amount and if you leave the company/job before certain defined period, that money will go to your employer.
btw, by law its illegal and good employers never do it cheap companies thought try to take advantage of desperate job-less people.
Re: 2 Lakhs Surety Bond?
^^ Can employer sell/en-cash these bonds at discounted price? ( ofcourse without the knowledge of the employee) i think i am getting idea of having new business in Pakistan!!!
The employer that I'm talking isn't cheap. Its actually a government agency. If anything, it itself is desperate for suitable candidates. I was thinking may be its a way of making sure that the person won't leave the company half ways through his/her contract? And once their contract finishes, they can get the money back or renew their contract?
Can u get that money back... ever?
Re: 2 Lakhs Surety Bond?
I wonder why they dont simply withhold a portion of your salary for the first few months as collateral, rather than ask you to put up money first as a security deposit.
Re: 2 Lakhs Surety Bond?
One cheapskate employer with sait kind of mentality wanted me to sign some blank papers as a condition of employment with them , because they were stealing from government and others and wanted to make sure that I would not go out and reveal their secrets and expose them if I ever was fired or leave job.
Idiots. They told me all their high ranking officer had to do that. Double idiots. 
And then they complain that talent is leaving the country and country is facing brain drain. tripple idiots. 
Re: 2 Lakhs Surety Bond?
its a bound if any employee leaves the company before prescribed time than he has to pay the amount company incured on him/her for training etc (also includes cost for new recruitment). it is also done in ARMY.
^ thats just stupid 
if only everyone in pakistan adhered to the terms n conditions of their contract the employers wouldn’t have to do this sorta stuff…
PS: Do u get the money back after your contract finishes?
its a bound if any employee leaves the company before prescribed time than he has to pay the amount company incured on him/her for training etc (also includes cost for new recruitment). it is also done in ARMY.
I think what you are referring to is the time spent by a cadet in the military academy. All cadets sign a bond pledging to pay for their training costs, should they leave the academy before completion. They do not put up any money upfront. Its just a written bond.
I think its safe to say, no legitimate company will ever ask you to put up any money for employment.
Written agreement, NDAs etc are all part and parcel of any legitimate job though.
ohhhhh 
ok