nykhil-rajHi Guys, I recently left my organization as there were some salary-related issues (Salary deferment and delayed payment) and got an offer from another MNC. They tried to retain me but I was not satisfied with company policy and salary processing. I did two mistakes during a call with the company HR & MD while they tried to retain:
1. I told them frankly the reason for my resignation (their policy and salary issues)
2. And the name of MNC from where I got the offer (MD told me to trust him and later he told everyone where I had offer from)
I served 90 days of Notice period, gave KT & Training, Handover all the company assets.
It's been a week since my LWD and now my company is not providing me with a relieving and experience letter and asking me to Sign an Indemnity Bond after I have left the company. This bond has so many clauses mentioned which are different from what was mentioned in my offer letter. They have mentioned in the Indemnity Bond that I shouldn't be joining/employed with any of their Clients, or its sister, or its allied company or its client's client directly or indirectly. They are also holding up my 2 months of salary.
Am I obliged to sign any such Indemnity Bond post-termination of my employment?
Is it legal that they can hold my relieving/experience and F&F in case I refuse to sign the Bond post-termination of my employment?
PROFESSIONALS AND BUSINESSES PARTICIPATING IN DISCUSSION
KK!HRThis is only an arm twisting tactics and is exploiting your lesser bargaining power. Are you joining any of the forbidden category of organisation? An indemnity bond is only a categorical assurance and since the management is aware of your new employer, is there any issue in giving it.
It is not only illegal but also unethical to hold the F&F settlement. You can also threaten them to expose the organisation in media.
From India, Mumbai
nykhil-rajHi Thanks for your reply,
As per my offer letter I am not forbidden to join the company from which I have offer as it is not a direct client, But if I sign this Indemnity Bond it might fall in such category.
I have offer from Company X which falls under an umbrella which has many entities all of which are legally separated and located in different geographical region, One of such entity Company Y is a client of my previous organization Z.
As per my offer letter I am not supposed to join any of the direct client of my current company Z, which I am not joining in this case.
As per this New Indemnity Bond which my previous organization is asking me to sign after my termination, I am not supposed to join any of their Clients, or its sister, or its allied company or its client's client directly or indirectly. It can be said Company X & Y are sister company although separated legally.
I have told HR that I don't agree with all the clauses mentioned in the Indemnity Bond, am not willing to sign any Bond post termination of my employment.
But they are asking to acknowledge and provide consent to this Bond to proceed further with providing the relieving & experience letter.
KK!HREvery company is different and a company is different from its share holders. Since you did not have any direct dealings with either X or Y, nor the erstwhile company has given you a list of such companies which you cannot join for this reason, you are not precluded from joining the new company. Are they in the same line of business? If not, then there cannot be any legal stop to your taking up job in the new company.
From India, Mumbai