Greetings to all, I am Paras, currently working at a private company. I have been offered a good position in an MNC, but the MNC is asking me to sign a 2-year bond and provide a cheque for an amount equal to six months' salary as a guarantee not to break the bond.
Please advise me on whether I should submit the money and sign the bond or decline the job offer. Your prompt response would be greatly appreciated.
Regards, Paras
From India, Surat
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Please advise me on whether I should submit the money and sign the bond or decline the job offer. Your prompt response would be greatly appreciated.
Regards, Paras
From India, Surat
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Better you go for another. You should put your points from your side too.
Understanding Salary Increments
First, know after how many months the company gives you an increment. If you are in sales, every 6 months, your salary will be increased in terms of the market. You will get offers from other companies too. Surviving in a company for 6 months is not a joke.
Evaluating Job Security and Increment Guarantees
What is the guarantee the company will provide you an increment after one year (at least 10%)? If they don't provide an increment, what will you do?
Overtime and Leave Compensation
How will your overtime and leaves be calculated in terms of money or compensation?
Company's Termination Practices
The company won't terminate you, but they will create an atmosphere where you need to resign... Ultimately, your 6 months' money can be used and only you would be at a loss.
Payment Guarantee and Notice Period
It's justified if the so-called MNC asks for a payment guarantee of 1 to 2 months' salary if you leave the organization without giving a notice period.
Better you discuss those issues with them. If they don't agree, then leave this offer and join another. Opportunities will come, but once you are trapped in the future, you may need to regret.
Best wishes.
From India, Mumbai
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37Understanding Salary Increments
First, know after how many months the company gives you an increment. If you are in sales, every 6 months, your salary will be increased in terms of the market. You will get offers from other companies too. Surviving in a company for 6 months is not a joke.
Evaluating Job Security and Increment Guarantees
What is the guarantee the company will provide you an increment after one year (at least 10%)? If they don't provide an increment, what will you do?
Overtime and Leave Compensation
How will your overtime and leaves be calculated in terms of money or compensation?
Company's Termination Practices
The company won't terminate you, but they will create an atmosphere where you need to resign... Ultimately, your 6 months' money can be used and only you would be at a loss.
Payment Guarantee and Notice Period
It's justified if the so-called MNC asks for a payment guarantee of 1 to 2 months' salary if you leave the organization without giving a notice period.
Better you discuss those issues with them. If they don't agree, then leave this offer and join another. Opportunities will come, but once you are trapped in the future, you may need to regret.
Best wishes.
From India, Mumbai
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I am Paras, working in Surat, and I recently joined a new company, but they have asked for a 2-year bond. I agreed to it, but they also asked for a guarantee amount as confirmation that I will not break the bond. They asked for a cheque amount equal to my new six months' salary.
Should I give this money to the employer or not? Please suggest to me as soon as possible.
From India, Surat
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Should I give this money to the employer or not? Please suggest to me as soon as possible.
From India, Surat
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Bond of Employment.doc
Bond in employment.pdf