Hello,
I am working for a private company, my question is - I have traveled to US for a process transition for 1 month and before going on transition co told me to sign a bond of 2 years which I did.
Now the issue is I am working in Noaida and my home location is Mumbai, I want to quite the job and move back to Mumbai as to take care of my parents as they are not keeping well. Now when I resigne from the company I have few questions plz help me out:
1. Do I need to pay 2 lac rupees for which I have signed the bond for 2 years as I have not completed 2 years after returning from US. Till now I have only completed 8 month with the co?
2. If I don't pay the bond amount what will happen, does co have a legal right to take me to the court?
3. Can co hold my reliving letter if the amount is not paid to them?
Pleas help me out so that I can move to Mumbai to take care of my parents.
Thanks,
Rakesh M
From India, Kolkata
I am working for a private company, my question is - I have traveled to US for a process transition for 1 month and before going on transition co told me to sign a bond of 2 years which I did.
Now the issue is I am working in Noaida and my home location is Mumbai, I want to quite the job and move back to Mumbai as to take care of my parents as they are not keeping well. Now when I resigne from the company I have few questions plz help me out:
1. Do I need to pay 2 lac rupees for which I have signed the bond for 2 years as I have not completed 2 years after returning from US. Till now I have only completed 8 month with the co?
2. If I don't pay the bond amount what will happen, does co have a legal right to take me to the court?
3. Can co hold my reliving letter if the amount is not paid to them?
Pleas help me out so that I can move to Mumbai to take care of my parents.
Thanks,
Rakesh M
From India, Kolkata
1. Bonds to withhold an employee is illegal. Through this bond a company can only recover the amount which has been spent on you for providing any special trainning and nothing more. Your reason of leaving the job earlier has no significance.
2. If you do not pay Rs.2 lacs company can take you to Court where you need to defend yourself.
3. They may withhold the relieving letter.
From India, Kolkata
2432. If you do not pay Rs.2 lacs company can take you to Court where you need to defend yourself.
3. They may withhold the relieving letter.
From India, Kolkata
you have not mentioned that you are going to take up alternate job or not?.If you are taking alternate job, before completion of 2 Years Bond which you have agrred, company is well within its right to Recover the amount towards failure to complete the required period of Service.If you are going to be with your Parents to take care of them, you can submit all medical records to the Employer & try to convince them to waive the 2 Years.
From India, New Delhi
From India, New Delhi
Does your office have a branch in Mumbai ? if yes,try for an amicable transfer.
From India, Bangalore
From India, Bangalore
Please share the Bond draft for giving proper reply. On what pretext this bond was prepared and signed has to be verified from the bond document.
From India, Thane
From India, Thane
while signing the bond you might have read all the conditions there in
if you are sent for a specialised training,the company has every right to recover the money spent on you for training
simply asking you to pay is not correct,company has to establish the fact of spending the money with proofs otherwise the bond will not stand
Try for transfer if they have a branch at mumbai
talk to your superior with open mind and seek advise
moveing around the courts is a painful and time consuming ,mental stress
B L n patrudu
From India, Hyderabad
if you are sent for a specialised training,the company has every right to recover the money spent on you for training
simply asking you to pay is not correct,company has to establish the fact of spending the money with proofs otherwise the bond will not stand
Try for transfer if they have a branch at mumbai
talk to your superior with open mind and seek advise
moveing around the courts is a painful and time consuming ,mental stress
B L n patrudu
From India, Hyderabad
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
PF query.doc