Labour Law & Hr Consultant
Educator, Management Consultant & Trainer
I am working at an IT company and I did a agreement for minimum committed period of 2 years but now I got a very good opportunity and My commitment period will finish on 22 sep 2016. I resigned on 5 August 2016.
So now company is demanding 100000/- Rs. as agreement money, as I have only one month left to complete my commitment.
Please suggest me, what should I do? My financial condition is very poor.
Looking forward to a immediate response, It's a very frustrating movement for me. Please help me to recover form this.
Thanks a lot in advance.
24th August 2016 From India, Bhopal
At the time of joining you will sign on all the documents invariably &in hurry to get a job and after working for 1 / 2 yrs you will get confidence, start searching and on confirmation from the new employer you will start looking for getting out. If you analyze you are in hurry at all the times & in all the assignments.
If you think coolly you would have waited for one more month / negotiated with the new employer & obtained time for one more month to join, you would have negotiated with the progressive employer for reimbursement of the amount of Rs.1 lac as now a days the organizations are very much ready for reimbursement of the bond amount / buy back of notice period / loan clearance etc., etc. However you should approach the HR / Director / Head of organization with the support of your boss. If boss himself is not ready then you have only options either to shell down the amount or get extension from your progressive employer or reimbursement of the amount what you are supposed to be paid to your present employer.
Last resort is to fight legally but it's time consuming and narrows your career options as the world is very small after the esavvy hence difficult to seal the information and knowing very fue employers will take risk.
25th August 2016 From India, Hyderabad
Kindly go through your agreement / appointment letter clause for leaving the services. What is the notice period mentioned?If you are breaking the agreement, you will not be eligible for experience / relieving letter,salary will be kept on hold, PF part is online that can be transferred, so not to worry about the same. As per general practices all these types of bonds are not valid.
Have you spoken about this agreement to the offered company? Kindly discuss the same with them & subsequently you should have discussed with your HR also. You need to take a calculative call and go ahead accordingly.
The best preparation for tomorrow is doing your best today.
25th August 2016 From India, Delhi
Thank you all for replying.
The Notice period is 2 month mentioned on appointment latter and if I will not give experience latter and reliving to the offered company then I do not thing offered company will agree.
One more thing I would like mention that I have also submitted my original documents to the company.
Now I am agree to pay 100000/- but thing is that still demanding for 2 month notice period, in which one month I have served already.
Please guide me.
26th August 2016 From India, Bhopal
Legal Agreement ,terms of appointment and compliance of same are one but fulfilling commitment as personal value system is another thing that is most valued, liked by any genuine person or corporate world.
You should find within you , your gain/ learning that you earned during this company in this period of 2 years in present company. Your future company is going to utilize your learnings / knowledge gained here. You have already reached to a level , with pride that has enhanced your employability making you a valuable asset. But at the point you decide to separate, you should wait to make graceful exit . You or your future employer may like to pay Rs. one lac and you walk out, its simple but not advisable.Complete full 2 years and few more months, explore better and prospective employer and walk out saying happy hello not with any controversy of any nature.
God bless you!!!
All the best!
FUTURE INSTITUTE OF MANAGEMENT AND TECHNOLOGY
Navtarang HR Services
26th August 2016 From India, Delhi
After executing a bond, one can not retract saying that in excess of enthusiasm or urge for getting a job he signed it without knowing or exactly understanding the contents just for waiver for the sake of his later benefits.
The financial condition which was very poor at the initial post seems to have improved to the level of paying the entire bond amount during his subsequent post. If so why not he buy out the entire notice period and walk out straight away with everything due to him?( This remark is not meant to justify the employer's holding back of educational certificates of the poster but only to highlight his mood swings and hasty decision making)
No crying over spilt milk. At this juncture it is better for you, Anirudh, to get extension of joining time from the prospective employer, complete the bond tenure as well as notice period and leave the present organisation peacefully as advised by Mr.RDS Yadav.
2nd September 2016 From India, Salem