I have recently joined an organization. I have a clause in my offer letter which states that I need to pay a certain sum of money if I leave the organization within a period of 1 year because the company invests time and money in my training. There is another clause in the appointment letter that specifies a probationary period of 3 months to become a confirmed employee. If I resign within this period, I have to serve a 15-day notice period.
Question Regarding Bond Money
My question is, if I leave the organization within a month of joining due to unforeseen situations (such as family transfer, health issues, etc.) and do not even wait for my confirmation period of 3 months, do I need to pay the bond money?
From India, Pune
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Question Regarding Bond Money
My question is, if I leave the organization within a month of joining due to unforeseen situations (such as family transfer, health issues, etc.) and do not even wait for my confirmation period of 3 months, do I need to pay the bond money?
From India, Pune
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Understanding Employer Investments and Employee Obligations
The employer has appointed you in good faith, and they might have incurred some notional costs directly or indirectly. An employee provides returns to the employer after a certain period through productivity. Until that time, the employer invests money in human assets.
Leaving an organization for a genuine reason is acceptable, such as prolonged health issues, and the employer may accept your request based on merit. However, leaving an organization for a family transfer may not be considered a valid reason for resignation, as there are no boundaries in the competitive world.
Present your case appropriately to your employer for a solution.
Regards,
Pon
From India, Lucknow
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616The employer has appointed you in good faith, and they might have incurred some notional costs directly or indirectly. An employee provides returns to the employer after a certain period through productivity. Until that time, the employer invests money in human assets.
Leaving an organization for a genuine reason is acceptable, such as prolonged health issues, and the employer may accept your request based on merit. However, leaving an organization for a family transfer may not be considered a valid reason for resignation, as there are no boundaries in the competitive world.
Present your case appropriately to your employer for a solution.
Regards,
Pon
From India, Lucknow
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As per clause of bond/appointment letter u have mentioned..you have to pay..the sum. Rgds
From India, Mumbai
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From India, Mumbai
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Hi, I agree with Abhay as two clauses of your offer of appointment are independent.. S.K.Johri
From India, Delhi
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From India, Delhi
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No friends, this kind of bond is not legal. A bond can only be signed if the person has been hired through campus recruitment or if the hired person will receive any special training for which the company will have to incur additional expenses apart from the regular ones. Regarding the probation period, this is a standard practice in the corporate sector.
Regards
From India, Delhi
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From India, Delhi
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Employment Contract agreement.pdf