I do want to leave a job and there is no bond. However, at the time of leaving, the company is asking for a bond that states no association with competitors for one year or a Rs. 5 lakh penalty. If I do not give the bond, I was told I would not be relieved.
I was given a car by the company, and there is a contract signed by me with the company that if I leave before 4 years, I should pay back the book value of the car to keep it, and I cannot return the car to the company.
In this context, if I do not give the bond and consequently not being relieved, what should I do with the car? The car is registered in the company's name. Should I hold onto the car or leave it with the company? How should I proceed if I am not being relieved?
Please advise.
SANIL