Dear Sir and friends,
I have recently obtained a job where I am required to sign a Rs. 1 lakh bond for 2 years, with my father serving as a guarantor. My joining date is set for 01-04-2010. Unfortunately, this date cannot be extended. While the company is good, it is not on the same level as TCS, CTS, or IBM. I now have a potential opportunity to join TCS, possibly by the mid to end of April 2010.
In this situation, what would you recommend I do? Should I accept the current job offer and then leave for TCS if the opportunity arises? Or should I proceed with the bond and then resign within a month if I secure a position at TCS? Do I have to fulfill the bond agreement, and is there any way to avoid it?
If I choose not to pay the bond, what repercussions might this have on my career and on my retired father? Could the company potentially take legal action?
I am primarily concerned about the financial implications and the impact on my future career. The stress of this decision has left me sleepless for the past two days, my mind consumed by this dilemma.
Please advise me on the best course of action.
Hope to hear from you soon.
Sincerely, [Your Name]
From India, Haora
Acknowledge(0)
Amend(0)
I have recently obtained a job where I am required to sign a Rs. 1 lakh bond for 2 years, with my father serving as a guarantor. My joining date is set for 01-04-2010. Unfortunately, this date cannot be extended. While the company is good, it is not on the same level as TCS, CTS, or IBM. I now have a potential opportunity to join TCS, possibly by the mid to end of April 2010.
In this situation, what would you recommend I do? Should I accept the current job offer and then leave for TCS if the opportunity arises? Or should I proceed with the bond and then resign within a month if I secure a position at TCS? Do I have to fulfill the bond agreement, and is there any way to avoid it?
If I choose not to pay the bond, what repercussions might this have on my career and on my retired father? Could the company potentially take legal action?
I am primarily concerned about the financial implications and the impact on my future career. The stress of this decision has left me sleepless for the past two days, my mind consumed by this dilemma.
Please advise me on the best course of action.
Hope to hear from you soon.
Sincerely, [Your Name]
From India, Haora
Acknowledge(0)Amend(0)
Dear Mr. Sudeep,
When you are confident about getting a job in TCS in mid-April, and this company is not comparable to TCS, why are you thinking it's better to wait until April? Once you sign a bond, they won't allow you to leave the company without paying the agreed amount you have signed for; hence, it's better not to join.
Even if you don't need the relieving and experience certificates, it will be difficult to work in another company because it could be considered double employment. If these people find out that you are working there without obtaining a relieving letter, they may send a notice, putting you in trouble. Therefore, it's better to choose one option. However, we can offer suggestions, but the final decision rests with you.
Regards,
Kameswarao
From India, Hyderabad
Acknowledge(0)Amend(0)
32When you are confident about getting a job in TCS in mid-April, and this company is not comparable to TCS, why are you thinking it's better to wait until April? Once you sign a bond, they won't allow you to leave the company without paying the agreed amount you have signed for; hence, it's better not to join.
Even if you don't need the relieving and experience certificates, it will be difficult to work in another company because it could be considered double employment. If these people find out that you are working there without obtaining a relieving letter, they may send a notice, putting you in trouble. Therefore, it's better to choose one option. However, we can offer suggestions, but the final decision rests with you.
Regards,
Kameswarao
From India, Hyderabad
Acknowledge(0)Amend(0)
Hi,
Please do sleep. It is not a matter worth losing sleep over.
a) Please show this bond copy (if available) to a legal professional.
b) If it is not possible to get a copy, then ascertain in the discussions as to what type of bond this is. If the bond is for sending you abroad for training/a separate training center where the services of a senior professional will be deployed to develop certain skills in you, then any violation of this bond will lead you to definite litigation. You have to pay the amount, and there is no way you can avoid this bond.
c) If you are joining as a trainee in this new company and the company says that they will train you for one year before offering you regular employment with a designation, then to recover the cost of this training by bond is not tenable in the law. You may clearly indicate that you are not willing to work on bond.
d) Joining TCS or any other company is your choice. However, leaving any company within one month of joining for a branded company does not sound professional or proper.
e) If your chances of getting into TCS are better, then see if you could postpone the date of joining this company by some more time.
Kind regards,
Dayanand L Guddin
From Singapore, Singapore
Acknowledge(0)Amend(0)
Please do sleep. It is not a matter worth losing sleep over.
a) Please show this bond copy (if available) to a legal professional.
b) If it is not possible to get a copy, then ascertain in the discussions as to what type of bond this is. If the bond is for sending you abroad for training/a separate training center where the services of a senior professional will be deployed to develop certain skills in you, then any violation of this bond will lead you to definite litigation. You have to pay the amount, and there is no way you can avoid this bond.
c) If you are joining as a trainee in this new company and the company says that they will train you for one year before offering you regular employment with a designation, then to recover the cost of this training by bond is not tenable in the law. You may clearly indicate that you are not willing to work on bond.
d) Joining TCS or any other company is your choice. However, leaving any company within one month of joining for a branded company does not sound professional or proper.
e) If your chances of getting into TCS are better, then see if you could postpone the date of joining this company by some more time.
Kind regards,
Dayanand L Guddin
From Singapore, Singapore
Acknowledge(0)Amend(0)
Hi Sudip,
Let's hope you get the TCS job. However, if you join the first company and leave midstream, you might get into a financial and legal mess. You may be tied to the company (your certificates and paycheck or any mode of payment in lieu of the settlement will be with them).
You can talk to the company about not signing the bond and consider any other alternative course. If they don't agree about the bond, then it's best not to join them. We don't know where you are located, but the job market is opening up well, and there are plenty of opportunities. Be patient and don't rush into this situation.
All the best.
From India, Madras
Acknowledge(0)Amend(0)
Let's hope you get the TCS job. However, if you join the first company and leave midstream, you might get into a financial and legal mess. You may be tied to the company (your certificates and paycheck or any mode of payment in lieu of the settlement will be with them).
You can talk to the company about not signing the bond and consider any other alternative course. If they don't agree about the bond, then it's best not to join them. We don't know where you are located, but the job market is opening up well, and there are plenty of opportunities. Be patient and don't rush into this situation.
All the best.
From India, Madras
Acknowledge(0)Amend(0)
Dear, as you have signed the bond, you need to pay the amount mentioned in the bond if you leave the company before the mentioned period. That is clear. If you don't inform them and leave the company, they can take legal action against you. You can indirectly ask someone by giving an example of any of your friends to find a solution. Remember, Sudip, every problem has a solution.
From India, Mumbai
Acknowledge(0)Amend(0)
From India, Mumbai
Acknowledge(0)Amend(0)CiteHR is an AI-augmented HR knowledge and collaboration platform, enabling HR professionals to solve real-world challenges, validate decisions, and stay ahead through collective intelligence and machine-enhanced guidance. Join Our Platform.
Career Decision Making.doc
BOND AGREEMENT and bond demand_compress ed.pdf