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As per my understanding few organisation I know , They will give you an option if you want to sign the agreement or not ,It’s not compulsory. The conditions goes like “If you sign the agreement , You confirm your joining and then apart from all the CTC ,Joining bonus etc offered, you will be eligible for addition -1L-5L amount as a sign on bonus”
If the organisation is not giving an option to not sign or if it is mandatory then it’s only good to drop such offer.

This is agreement will be valid. Mostly done by small companies and startups do it. One of my friend's faced this in the pre covid times where they asked him to submit his original certificates also 😅 .

If you sign this agreement I don't think you can revise your CTC after getting other offers nor you can join a better company .

Join this company only as a last resort.

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Don't even join a company which has this kind of agreement.
I would reject the offer immediately

likefunnysmart

This is not good. You should not think to join such companies where freedom is not available

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If u are being imposed such tough conditions before joining the company, think of how u will be treated after joining ?

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Is it Zycus? I faced the same for this. The trick is to get the offer letter and reject it, and then use that offer letter to negotiate further at other companies. I did the same and it worked out well.

funnylikesmart

Bhai tu itna darega toh IT field me survive kaise krega

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Which is this company?

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Till now I heard from these 2 companies
1. Gateway Group of Company Ahmedabad
2. Meta Cube Jaipur

From How many years you are working with that company..?

Haha sign bhi kr dega....aur uske baad join nahi bhi krega to kuch nh ukhaad payenge wo... they are just playing with ur mind and building pressure... unko direct mail kr do... "Pehli fursat me nikal"

likefunny

Never heard such condition before. Desperate times it seems. No one can confirm if it is valid except a lawyer who has access to such document

@TCS bro don't sign any bond. Ahmedabad has many companies with this kind of policy. I have encountered this situation many times. Some companies even demand original document. If you are in need of a job then go for it but in other case just deny such kind of company offers.

Company name please?

Mentioned in upper comments

Don't sign this agreement and don't join, i would suggest to search for some other company.

Bhai company ka naam bata... Dar mat

Metacube is a good company as per the reviews that I heard.

Don't join that company. I understand they might have given better package then TCS but it seems to be a very small company since they kept this condition and TCS is really a good company. You will definitely regret for joining in that company.

Tcs is giving 8 lpa for 6.8 yoe and other company is giving 14.24 lpa .. this is the problem that's why I accept offer .

Could you please name the company? there are multiple companies used to do like this.. but after that they don't even release offer letter.. was going through LinkedIn post.. have seen similar experience.
And also as per labour law this contract will be “null and void”. So even if you sign this contract just to get the offer letter and later you don't join. Company won't bother to disturb you in any condition. btw good luck for your further search. If you want referrals in other companies do ping me on insta @referitjobs or you can mail to referitsjobs@gmail.com

MetaCube and Gateway Group . These 2 till I know .

Don't join such company , I have come across few posts on LinkedIn having the same discription and in the end they didn't even did onboarding after 1 month...

This is called no-shop clause followed by companies off late. There is nothing wrong here because it is two way pact i.e. if you don’t or if company rescinds the offer in either case other party has to pay the amount. I have seen this agreement recently for Coinbase

Which company?

How can someone be forced to sign something they don't want to sign? No one can force you to sign something that is to your disadvantage.

Ask them to add another clause stating they will give a minimum of 15% hike every year and won't terminate you in the first 5 years of employment

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