PSU Bank offer letter contained place of posting as Hyderabad. I left my well-paying IT job to join there.
During 3 day induction I had signed an indemnity bond of INR 1 Lakh. When I went to Hyderabad branch I was asked to join 250 Km away from Hyderabad in the remotest village. I objected and resigned on the spot. I was asked to pay 1 lakh INR without which HR said they cannot process the resignation.
I knew I had already signed the indemnity bond and had to pay. So I requested an arrangement to pay in instalments or staggered payments.
The Bank refused and demands the payment in one lump-sum.
What are my options? Please help. In reply to the latest email received, I have reiterated my intent to solve it amicably and again stressed that due to my financial condition I cannot pay in one lump-sum and stated that I am open to flexible options like staggered/instalment payments.
Please help me. I need advice. Will a money recovery suit be filed? What happens now and how can I best handle this scenario?
During 3 day induction I had signed an indemnity bond of INR 1 Lakh. When I went to Hyderabad branch I was asked to join 250 Km away from Hyderabad in the remotest village. I objected and resigned on the spot. I was asked to pay 1 lakh INR without which HR said they cannot process the resignation.
I knew I had already signed the indemnity bond and had to pay. So I requested an arrangement to pay in instalments or staggered payments.
The Bank refused and demands the payment in one lump-sum.
What are my options? Please help. In reply to the latest email received, I have reiterated my intent to solve it amicably and again stressed that due to my financial condition I cannot pay in one lump-sum and stated that I am open to flexible options like staggered/instalment payments.
Please help me. I need advice. Will a money recovery suit be filed? What happens now and how can I best handle this scenario?