Leaving a Bank Job Early: Do I Owe 3 Months' Gross Salary or Just Basic Pay?

I left a bank job a few months ago because I got an opportunity in another bank for a higher scale. As I have to join the other organization very shortly, I do not have the time to provide the ideal notice period of 3 months. As such, they have asked me to deposit 3 months' salary as I have completed 8 years of service there. I am curious to know whether the salary which I have to deposit would be the gross income of 3 months or it includes only Basic plus Dearness allowance. Please suggest.

In such a case, I suggest you have a look at your appointment letter and understand the clauses. Appointment clauses must mention whether the deduction is to be made on gross or basic alone. As a standard practice, organizations make recovery on Basic (+DA) only.

Also, you can request your new employer to buy out your notice period; which nowadays major organizations do when they want talent on board quickly.

It's better to maintain good relations with your previous employer, especially if you have had a long association, such as working for more than 8 years. Therefore, it is advisable to approach the HR or HOD, discuss the matter with them, complete the necessary formalities, obtain your service or relieving letter, and resolve the issue.

If the discussion was rushed and possibly did not occur, they may not be willing to cooperate now. However, you could attempt to seek reimbursement.