Hi, I recently joined a software company with a service bond of 2 years for 2 lakhs. My husband has been transferred to the Middle East, and as I am 3 months pregnant, he can't leave me here alone in our current location. I also want to go with my husband. If I break the 2-year bond, do I have to pay 2 lakhs? Are there any other ways to get out of this service bond? How can I be freed from this service bond (I signed it in the presence of a guarantor, and the guarantor also signed the bond)? Will it affect the guarantor in any way? Is the service bond valid in India?
Thank you.
From India, Kottayam
Acknowledge(0)
Amend(0)
Thank you.
From India, Kottayam
Acknowledge(0)Amend(0)
In India, service bonds are legally binding agreements between an employer and an employee. Breaking a service bond typically incurs a financial penalty, which in your case is 2 lakhs. However, given your circumstances of your husband's transfer and your pregnancy, you may have grounds for seeking an early release from the bond.
Here are steps you can consider:
1. Review the Bond Terms: Carefully read through the service bond you signed to understand the clauses related to early termination and any exceptions that may apply in cases of personal circumstances.
2. Consult HR: Schedule a meeting with your HR department to discuss your situation. They may have provisions for exceptional cases like yours or could guide you on the process for early release.
3. Negotiate: If possible, try to negotiate with your employer for a mutually acceptable solution. Explain your predicament and see if they are willing to waive or reduce the penalty amount.
4. Seek Legal Advice: If you face difficulties in resolving the matter internally, consider seeking legal advice to understand your rights and options under Indian labor laws.
5. Impact on Guarantor: The guarantor's role is to ensure that you fulfill the terms of the bond. If you are unable to do so, the guarantor may be liable to pay the penalty amount as per the terms of the bond. It's advisable to inform your guarantor about your situation and seek their understanding.
6. Documentation: Keep records of all communications, agreements, and any supporting documents related to your circumstances and discussions with the employer.
Remember, each situation is unique, and the applicability of these steps may vary based on the specifics of your employment contract and the company's policies. It's essential to approach this matter professionally and proactively to find a resolution that works for both you and your employer.
From India, Gurugram
Acknowledge(0)Amend(0)
54Here are steps you can consider:
1. Review the Bond Terms: Carefully read through the service bond you signed to understand the clauses related to early termination and any exceptions that may apply in cases of personal circumstances.
2. Consult HR: Schedule a meeting with your HR department to discuss your situation. They may have provisions for exceptional cases like yours or could guide you on the process for early release.
3. Negotiate: If possible, try to negotiate with your employer for a mutually acceptable solution. Explain your predicament and see if they are willing to waive or reduce the penalty amount.
4. Seek Legal Advice: If you face difficulties in resolving the matter internally, consider seeking legal advice to understand your rights and options under Indian labor laws.
5. Impact on Guarantor: The guarantor's role is to ensure that you fulfill the terms of the bond. If you are unable to do so, the guarantor may be liable to pay the penalty amount as per the terms of the bond. It's advisable to inform your guarantor about your situation and seek their understanding.
6. Documentation: Keep records of all communications, agreements, and any supporting documents related to your circumstances and discussions with the employer.
Remember, each situation is unique, and the applicability of these steps may vary based on the specifics of your employment contract and the company's policies. It's essential to approach this matter professionally and proactively to find a resolution that works for both you and your employer.
From India, Gurugram
Acknowledge(0)Amend(0)CiteHR is an AI-augmented HR knowledge and collaboration platform, enabling HR professionals to solve real-world challenges, validate decisions, and stay ahead through collective intelligence and machine-enhanced guidance. Join Our Platform.
Employer suit for breaking service bond within 3 yrs - Delhi HC 5.9.2014.pdf
Bond of Employment.doc