Navigating Resignation: How to Handle Notice Period and Bond in Indian IT Firms?

Hi,

I am working in an Indian IT company. As per my appointment letter, I need to give a notice of 3 months before resigning, and I have to pay the bond amount as I am leaving before the 2-year period.

Please help me with the course of actions I should take. What should I write in the notice? Should it be mentioned in the bond? Should it be dispatched by registered post or email? Do I need to write a separate resignation letter, or will my notice serve as the resignation letter? Will I receive a full salary for these 3 months?

Dear Mr. Patil ji,

The resignation should be submitted to your immediate department head. He will forward it to the concerned with his comments, such as relieving him as per the appointment letter or as per the norms of the company rules. After that, they will request you to attend an 'Exit Interview'.

Regards,
PBS KUMAR

Hi,

I am working in an Indian IT company. As per my appointment letter, I need to give a notice of 3 months before resigning, plus I have to pay the bond amount as I am leaving before the 2-year period.

Please help me with the course of actions I should take. What should I write in the notice? Should it be about the bond? Should it be dispatched by registered post or email? Do I need to write a separate resignation letter, or will my notice only serve as the resignation letter? Do I get a full salary for these 3 months?

The procedure explained above would suffice your needs; however, let me put it this way: You need to submit the resignation letter to your immediate head. They will provide comments and then pass it on to the HR Department, who, in turn, will explain your company's procedures (generally, an exit interview will be conducted).

Now, as per your statement, you are bound by a bond. In this case, either the company will deduct the money from your salary as you are leaving early, or they may not, but ask you to pay in full during your exit (it's the company's prerogative).

P.S: My advice to you would be to get in touch with the HR directly and ask for the procedure as the procedures vary in different organizations.

Hope I answered your question.

Yes, but what about the salary for the 3 months of the notice period? Do I get the full salary? Because I am thinking of using this salary to pay the bond amount.

Hi,

You might have misinterpreted the agreement; usually, it is mentioned as a notice period or the bond amount. But still, if it is mentioned both, then you will definitely be paid the three-month salary if you have worked for the same period. Also, any funds that come as due to you from the company, including PF amount if deducted if included in your CTC as well as gratuity, the amount if it is deducted from your salary.

For resignation, you have to send a letter to your line manager and make sure that it is forwarded; do follow it up. In case it is not forwarded, you have to CC it to the HOD and the HR manager. A case happened wherein one of the employees' resignations was not forwarded by the line manager, and hence his exit had to be delayed because of the same. Hence, ensure that your resignation is accepted. Get an email saying the same if required.

Hope the above sorts your queries.

Regards,
AJ

Hi,

What I meant is you will receive your full dues until the last day of your work with the company even though it's your notice period.

Regards,
AJ

Thanks for your reply. I have one more doubt. What if I refuse to pay the bond amount, or can I ask for reducing the amount as I have worked for 1 year? As I am going to a totally different field, any experience certificate from my current employer won't matter much. I just want this thing to be very smooth. Is there any chance that the company could hold my release over this point?