If a company employee bond breaks up due death of employee then wills the amount of compensation is paid by employee’s side?

Filling up the bond for various projects in office and for the stability of the employee id a normal regime in recruitment. But if after filling such bond but before its completion a candidate dies then in this case too his/her family is liable to pay a sum of compensation to employer?

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Originally Posted by Unregistered

Filling up the bond for various projects in office and for the stability of the employee id a normal regime in recruitment. But if after filling such bond but before its completion a candidate dies then in this case too his/her family is liable to pay a sum of compensation to employer?

Dear Aspirant,

See the employer has terms & conditions which are to be followed by both the employees & employer in order to smooth functioning of the company.It also helps in avoiding the dispute between the employees & employer.Since death is an unexpected event & it is a matter of sock of sorrow to the family & company,the amount should not be deposited by the family of the ex-employee.

So it is better to enquire the matter with the manager HR of the company.He/she will let you know in details as to what you have to do in such case.Also go through the terms & conditions of the appointment carefully.

Thanks & good luck.

First of all these things depend on the bond that is signed between the employee and the employer. If any such condition is mentioned in the bond

that according to that things are done. As it is an event that is not predetermined and thus there is no fault of any side so normally such

compensations are not possible. If the bond would have been broken intentionally bu the employee due to is benefits like getting some higher

paying job in other company than there might have been the possibility that you could get the compensation as mentioned in the bond. Since in this

event there is no such benefit involved and the bond was broken due to death which cannot be controlled so it would be better that you leave the

matter.Also on the humanity ground it would not be good to ask for money from a family which already is going through a tough time due such a

loss in there family.

Death is a sudden event which can happen in anyone's life at any point of time.There is no control of anyone over it .So cases of this sort is really exceptional.

In this sort of cases,in earlier days,it is used to happen that the entire money for the bond had to be bore by the family members of the employee if any such clause was written in the bond signed between the employer and the employee.If there were no such clauses in the bond,then the family members were not compelled to give the amount and the concerned company had to bear the losses on account of that.

However,in modern day,the world has changed a lot and there is solution to almost everything.Now along with signing a bond,an insurance is also done of the concerned employee by an insurance company who has a tie up with the concerned company.The insurance is basically life insurance or accidental insurance of the employee.

As a result if any such cases arise in which the employee had expired then the entire bond money will be paid by the insurance company to the concerned company.As a result neither the family members of the employee nor the employer have to bear any trouble related to money.If there is no case of death,the insurance amount is taken by the insurance company which acts as its profit.