Company Bond Practices and Employee Policies
A reputed company has the practice of renewing bonds once every four years for the management category. In these bonds, they do not mention the status of the individual for the next three years, including details such as the increment level and leave entitlements. This bond is purely one-sided. Is this correct?
Additionally, if anyone resigns, they are not easily let go. Employees who resign within one month of service are required to pay two months' notice pay based on their basic salary for early relieving. The company does not settle leave salary or performance incentives for completed years.
Furthermore, they typically employ staff as trainees for the first two years before confirming their employment. Should this training period be considered for gratuity?
Regards,
S. PIRAMANAYAGAM
From India, Chennai
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A reputed company has the practice of renewing bonds once every four years for the management category. In these bonds, they do not mention the status of the individual for the next three years, including details such as the increment level and leave entitlements. This bond is purely one-sided. Is this correct?
Additionally, if anyone resigns, they are not easily let go. Employees who resign within one month of service are required to pay two months' notice pay based on their basic salary for early relieving. The company does not settle leave salary or performance incentives for completed years.
Furthermore, they typically employ staff as trainees for the first two years before confirming their employment. Should this training period be considered for gratuity?
Regards,
S. PIRAMANAYAGAM
From India, Chennai
Acknowledge(0)Amend(0)
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