Training Bond Agreement Malaysia

These restrictions are imposed because employers inc afford to spend considerable money on training workers and improving the quality of goods and services. Borrowing is used to discourage employees from going after training and improvement. Employee departures result in financial losses for employers and also delay ongoing projects, which affects goodwill and good reputation. From a worker`s perspective, complaints about “unfair” employment obligations are widespread. In summary, for the performance of a valid person, the parties must ensure that: the Postbox Management Institute 2987 -00100, represented by Mr. Saman Kinh, duly qualified regional manager, is called “Institute” and means the Institute of Management or “Employer”, as it was created today or from time to time during the implementation of this agreement. In other words, it is an agreement that requires the worker to serve the employer for a specified period of time. It is this element of duress that creates the most problems. This article discusses the applicability of employment obligations and the rights of employers and workers. A job loan is essentially an agreement between the company (employer) and the employee, the employee pledging to stay for a certain period in exchange for training or other benefits of the company (“borrowing”). In the event that the employee violates the terms of the loan, it is customary for the bonds to contain conditions that require the employee to reimburse the training/benefit costs incurred by the company. In some cases, the loan may also include the provision that a fixed “penalty” must be paid in the event of non-compliance with the terms of the loan.

This amount, fixed below the bond, is called “liquidated damage.” If a worker violates a job loan, the employer may suffer a loss and be entitled to compensation. Compensation should be appropriate to compensate for the injury suffered and should not exceed the penalty specified in the contract.

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