Anonymous
1

Need some advice - Joined an IT company and signed a 3-year bond and completed the probation I was asked to submit an undated cheque of 2 lakhs but did not submit it at the time of joining. Now HR frequently asks for the cheque. I am not willing to submit the cheque. Any suggestions
From India, Hyderabad
PROFESSIONALS AND BUSINESSES PARTICIPATING IN DISCUSSION
Saswatabanerjee
Partner - Risk Management
Vmlakshminarayanan
Sr.manager - Hr&admin
Imok
Sr Executive
Nathrao
Insolvency N Gst Professional
KK!HR
Management Consultancy
Aussiejohn
Workplace Assessment And Training
Nav954
Software Developer

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aussiejohn
589

Why did you sign a 3 year bond?

What happens if you take a dislike to the place after a couple of months as have many people who have already posted here on CiteHR, and now find themselves in very difficult circumstances.

These bond issue have become a real PITA, and yet people keep on signing them without thinking of the consequences when it turns out they don't like the job, the management, or their new co-workers.

I am staggered by the number of people who cannot think things through BEFORE making life changing decisions, and who also do not take on board the experiences of others.

From Australia, Melbourne
vmlakshminarayanan
344

Hi,

Either Training Agreement/Indemnity bond / security cheques what ever mutually discussed and agreed between Employer and Employee at the time of joining alone is valid. You can inform your HR that security cheques was not part of the discussion at the time of joining and hence you are not under any compulsion to submit the same.

All the same please check your appointment order /agreement whether any such clause is added...like employer has right to.....

From India, Madras
saswatabanerjee
2289

Was the requirement to submit a cheque a part of the bond terms?
From India, Mumbai
Nav954
1

The submission of cheque was part of indemnity bond and I did not yet submit the cheque .And thinking on telling the HR that I won't be submitting the cheque .can anyone let me know what action can be taken on this by the company.
From India, Hyderabad
aussiejohn
589

What action the company might take against you is up to the management. We do not work for your organisation, and thus have no idea how management thinks.

It is quite likely the outcome of this standoff will not be good, so I would suggest dusting off your negotiation skills to try and find a way through it. At the very least, you need to be working out what your Plan B is going forward.

From Australia, Melbourne
KK!HR
1317

As you are having second thoughts on sticking to the organisation, it is very good that you did not submit the undated cheque otherwise they have right to proceed against you as per Negotiable Instrument Act 1881 (both criminal and civil) in case you have abandoned their employment and your cheque has bounced.
Since the bond you have signed contained a provision for submission of cheque, there is a breach of it and the company can take action thereof. What action the company will take, we cannot procrastinate.
I think the time has come to decide whether to stick to the company or not. If you decide to stay on submit the cheque otherwise talk it over and mutually settle.

From India, Mumbai
nathrao
3106

The bond is in itself irregular.No one can compel an employee to serve.
Is there an exit clause in your employment letter?
Company can take action against you for not depositing the cheque.
Legal action by you will take time.
So discuss with company while privately looking out for alternate jobs.
Think before acting is a cliche but now it is too late.See a way out.

From India, Pune
imok
77

give them cheque with slightly changed sign, issue solved.
From India, Delhi
saswatabanerjee
2289

I assume you are aware that you are subject to civil and criminal prosecution and penalty?

1. For fraud by submitting a cheque knowing the signature is fake
2. For cheque bouncing under sec 138 of the Negotiable Instrument Act for issuing an instrument that will bounce. They will have proof that it is for a valid debt and it was given by you with deliberate intent for it to bounce.

And I also hope you are aware that most companies will refuse you employment in future if you have criminal cases against you.

Just curious, who gave you this advice?

From India, Mumbai

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