I have signed a training agreement (bond) of INR 1 lakh for 33 months with an organization. Since then, I have been working with them without any issues and giving my best. Now, I want to pursue higher education in the UK and wish to break or negotiate the bond amount as it is quite substantial. Can you please help me with it?
From India, Mumbai
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From India, Mumbai
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Hi, How long have you been undergoing training with them? Does the training involve cost factors like software license fees or the services of a specialized trainer hired, etc.? If you are in the initial stages of the training period, say within a 6-month range, then you can negotiate with your employer about your inability to continue due to higher education commitments and request a longer notice period for relieving. If you are in the mid-course of training, say more than 1.5 years or so, then you need to negotiate strongly with your employer for proper relieving with an extended notice period and also potentially forfeit the full and final settlement to a maximum.
When you have plans for higher studies, you shouldn't have signed the bond. Most employers will have some process for trainees to find a way out, such as an extended notice period or paying a penalty equivalent to 2 months' salary, etc. Therefore, talk to your HR and find out.
From India, Madras
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1015When you have plans for higher studies, you shouldn't have signed the bond. Most employers will have some process for trainees to find a way out, such as an extended notice period or paying a penalty equivalent to 2 months' salary, etc. Therefore, talk to your HR and find out.
From India, Madras
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Since you have worked partly out of the 33 months committed by you, they cannot claim the full amount and can only have a claim that is reduced in proportion. You may pursue it accordingly.
Training Expenses Claims
An organization can only claim for the training given to you, so the training expenses apportioned to you can only be claimed. Any extra expenses claimed are not legal and proper.
From India, Mumbai
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Training Expenses Claims
An organization can only claim for the training given to you, so the training expenses apportioned to you can only be claimed. Any extra expenses claimed are not legal and proper.
From India, Mumbai
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BOND AGREEMENT and bond demand_compress ed.pdf
Learning in Higher Education & Beyond Sept 2003.ppt