Bonds are injurious to employees

The concept of bonds help the employer in reducing attrition , in recovering the money invested on the employee. In this regard, i would like to narrate my own experience. The attrition in software companies is very high and is growing rapidly. This may be due to bad working conditions or high ambitions of the employees. Whatever may be the cause , to address this issue software companies take refuge in various bonds while recruiting employees. TCS has this policy that any fresher joining the TCS has to sign bonds which restrict him from leaving the company for two years and if he leaves before that he will have to pay a sum of Rs 50000/- and has to give one month notice . Straight out of my engineering college , I joined TCS and signed this bond. As obvious , i had no clue what is the importance of it and how much it can cost me in future. As all my friends were signing it , i too signed it.
Now, when in TCS i did not like the kind of work I was doing and also for the reason that i had to regularly work for 12-14 hours a day. So, i desperately searched for other options. The one which i chose was to go for higher education. I cleared XAT and was selected for XIMB. But, when i filed my resignation the HR clearly refused it saying that you cannot just simply put down your papers and that you have to serve TCS for the one month notice period , do knowledge transfer to some guy (as i was a key resource in that project ) and pay the amount of 50000 before you can come out of TCS (you will not get any experience certificate ). Now , i would like to state that I got the mail from XIMB admissions office that i was selected for its PGDM program on 17th June and that i will have to join on or before 25th June. So, if i will have to serve the the one month notice period at TCS, i will not be joining XIMB . Still i tried to convince the HR and my project manager , but all in vain . Finally, i told them that if they will not release me from TCS then i will join XIMB without paying the bond amount and that i have my payslips to prove that i worked for TCS for one year. I also told my project manager that i will not do the knowledge transfer because of which they will have to suffer .Then , they started negotiating with me and finally agreed upon 7 days knowledge transfer along with the 50000 after which i will be released from TCS.
So , this way i got released from TCS and finally joined XIMB. But, here as i was going for higher education i was not really worried about my experience certificate and as i was a key resource in the project i was able to negotiate. But ,i have many friends who are getting good offers from other companies but have to serve these notice periods before getting released from TCS .As, the release letter from your previous employer and the experience certificate is a must for the new job , they are not mostly able to join the companies ,as by the time they clear the notice period the post is occupied by someone else. So, the bonds are playing their part for the employers though sometimes employees can outsmart them.