Checkbox value is always 'on'

Checkbox value is always 'on'

this is my checkbox
<label class="checkbox">
<input id="eu_want_team" name="eu_want_team" type="checkbox">
</label>
var eu_want_team = $('#eu_want_team').val();
alert(eu_want_team);
Its always displaying ON, is it checked or not. Whats the problem with it?