I'm working in a private limited company in Ahmedabad, Gujarat, as a trainee engineer. I have signed a notarized bond for two years, and the notice period is one month. My bond ends in June 2014. Can I submit my resignation in May 2014, or do I need to wait until the bond expires before resigning?
Please help!
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From India
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1Please help!
Regards
From India
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Notice period is part of the service period. Technically, you are completing the bond period, including the notice period served. You can submit the resignation one month before the bond expiry date and get relieved on the next day after the bond expiry period.
From India, Lucknow
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From India, Lucknow
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It depends on Company’s discretion whether they would accept your resignation after expiry of your bond period or not.Even they can waive off your one month notice pay if they desire so.
From India, Calcutta
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From India, Calcutta
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Legal Validity of Employment Bonds
Such bonds might not have any legal validity. Such bonds or clauses in the agreement might be considered as a penalty clause and are invalid under the Indian Contract Act. Employers do not have any right to prevent a person from leaving the job without paying the bond amount, except in certain conditions like when the employer has paid for any training course (employers should be able to produce certificates, proof of the cost of such training, etc.). Generally, in-house superficial training might not have much value.
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From India, New Delhi
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Such bonds might not have any legal validity. Such bonds or clauses in the agreement might be considered as a penalty clause and are invalid under the Indian Contract Act. Employers do not have any right to prevent a person from leaving the job without paying the bond amount, except in certain conditions like when the employer has paid for any training course (employers should be able to produce certificates, proof of the cost of such training, etc.). Generally, in-house superficial training might not have much value.
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From India, New Delhi
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U will have to complete the notice period.However you can get wave off aproval from the compitent authority if u required. regards Sultan,Pakistan
From Pakistan, Karachi
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From Pakistan, Karachi
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How to Handle an Employee Resignation.doc
Legal Clarification on Absconding Employee, Contract Labour Engagement & Leave Entitlement Ammen.pdf