PROFESSIONALS AND BUSINESSES PARTICIPATING IN DISCUSSION
Head Hr - Mahindra Aerospace
Manager Hr & Admin
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Please check if they are getting signed on a paper or draft promisory note.
The terms of employment between an employee and the company including the security deposit amount to Private contract, hence can not be contested.
So you may not be able to get the money back in case you leave the services within the stiplated time.
Dayanand L Guddin
From Singapore, Singapore
It is an unfair labour practice to collect one month CTC in the form of security deposit from its employees who join with company with a condition that employee has to work for atleast one year with company and if employee leave before one year, security deposit will be forefeited and mgmt will not refund the money.Therefore you can point out this illegality and first send a regd letter[not e mail] and if your employer does not comply then you can take it up legally through a local lawyer.
Mobile : 9025792684
From India, Bangalore
ljnassociatesThis issues have been settled by us earlier also. Please get in touch so that we know the whole issues to give a proper legal and easy solutions.
For further details, we request and appreciate you to get in touch at or 9870006433/91-222-27666136/09833366642. We are running a law firm by the name "LJ & Associates" and is headed by me. I myself have legal experience in courts and corporates of more than 8 years and during these years have done with my B Com, LLB, LLM, MBL, MBA, CS Inter.
Please find in attach my profile for your any further issues and will be great to help you out.
Thanks & Regards
Lalit K Jain
From India, Mumbai