Feeling Stuck at L&T: How Can I Resign Without Paying the Bond and Secure My Provident Fund?

I am presently working at L&T Construction. I joined in 2018. After that, I completed a 2-year M.Tech from 2020-22 through company sponsorship. I rejoined in July 2022. Now, I am unwilling to work in the company as they are not providing me with a transfer to the Northern India Region. Before starting my M.Tech, I signed a bond with them for 4 lakhs, which will start from July 2022.

Guidance Needed on Leaving the Company

1. What should be my strategy to leave the company? Should I simply ghost them or send them an email stating my request for a transfer or my inability to work further? I am willing to work for a year or two, provided I get a job posting near my hometown. I am also willing to complete my notice period. Will it be of any use if I don't pay the bond amount?

Concerns About Provident Fund and Bond Amount

2. I also have a Provident Fund with them, managed completely by L&T with no UAN access. Will that be held by them if I don't pay the bond amount?

Pro-rata Settlement Inquiry

3. Can I claim a pro-rata settlement? From previous experiences, they mentioned they may ask for full repayment.

Kindly help.

Thanks

Location: Mumbai, India
Tags: bond amount, resignation and notice period, transfer and promotion, job posting, notice period, Country-India, City-India-Mumbai

Strategy to Resign from L&T:

It is advisable to communicate formally with your employer regarding your concerns about the transfer and your preference for a job posting near your hometown. Sending an email explaining your situation and preferences is a professional approach rather than ghosting the company.

Addressing the Bond Agreement:

If there is a bond agreement in place, it is essential to review the terms and conditions outlined in the agreement regarding resignations and repayment. Not paying the bond amount may have legal implications, so understanding the consequences is crucial. Consult with a legal advisor if needed.

Handling PF and Pro-Rata Settlement:

Regarding your PF held by L&T, ensure you have clarity on the process of accessing it, especially if there are outstanding financial obligations like the bond amount. You can inquire about the pro-rata settlement based on your tenure with the company and the policies in place.

Seeking Legal Advice:

If you face challenges in resolving these issues internally, consider seeking legal advice to understand your rights and obligations under labor laws and company policies. Professional guidance can help you navigate the situation effectively.

Consider Negotiation:

If you are willing to work for an additional period in exchange for a transfer, you can discuss this option with your employer. Negotiation might lead to a mutually beneficial solution for both parties.

Notice Period Completion:

Completing your notice period is recommended as it maintains professionalism and adherence to company policies. However, not paying the bond amount may impact your exit process, so evaluate the implications carefully.

Final Thoughts:

Prioritize open communication with your employer, understand the legal implications of your decisions, and explore all possible solutions before making a final decision. Seek support from relevant authorities or legal experts to safeguard your interests during this transition.

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