Hi, one of my friends is working at XYZ Company. He signed a bond (6 months completed) for 3 years (otherwise Rs. 3 lakhs) and has a 3-month notice period for relieving.
Now, the problem is he has received a good job offer from an MNC (with a good CTC) and he wants to leave his current job to join the new company. He is aware that his current employer may not release him even during the notice period (due to the bond he signed). However, the new employer (New HR) is willing to onboard him without requiring a relieving or experience letter (stating that only a resignation email copy is sufficient).
He is concerned that the new employer may terminate him in the future if they decide they no longer want him due to the circumstances of joining without a relieving order. Additionally, he worries that his current employer may take legal action against him for breaking the bond and notice period.
Please advise me on what guidance I can offer him as he does not want to miss out on this new opportunity. Please reply as soon as possible; it's urgent.
From India, Bangalore
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Now, the problem is he has received a good job offer from an MNC (with a good CTC) and he wants to leave his current job to join the new company. He is aware that his current employer may not release him even during the notice period (due to the bond he signed). However, the new employer (New HR) is willing to onboard him without requiring a relieving or experience letter (stating that only a resignation email copy is sufficient).
He is concerned that the new employer may terminate him in the future if they decide they no longer want him due to the circumstances of joining without a relieving order. Additionally, he worries that his current employer may take legal action against him for breaking the bond and notice period.
Please advise me on what guidance I can offer him as he does not want to miss out on this new opportunity. Please reply as soon as possible; it's urgent.
From India, Bangalore
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Looking at the bond amount (3 Lakhs), it's not advisable to leave that company because once you have signed a legal bond and a significant amount of money, the company might put you in legal issues.
Has this bond issue been discussed with the new employer?
From India
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1Has this bond issue been discussed with the new employer?
From India
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Hi Mr. Vilok Nandan,
He has discussed with the new HR about this bond (which does not carry witness and surety, and there is no signature from the current Company's side in the bond). The new HR said that once he joins the organization, he will take care of all those things.
From India, Bangalore
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He has discussed with the new HR about this bond (which does not carry witness and surety, and there is no signature from the current Company's side in the bond). The new HR said that once he joins the organization, he will take care of all those things.
From India, Bangalore
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Understanding Employment Bonds
A bond is entered into by a company to ensure its safety, i.e., to retain employees with the company for a specified bond period. This is because the company incurs expenses on training and development of employees and aims to avoid the regular process of recruitment and resignation.
Therefore, it is not advisable to leave the company once you have signed a legal bond, as you are bound by the agreement with the company. Breaching this agreement could lead to legal issues, and the company may seek to recover the bond amount. If necessary, you can discuss with HR the possibility of mutually agreeing to be relieved from the bond.
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A bond is entered into by a company to ensure its safety, i.e., to retain employees with the company for a specified bond period. This is because the company incurs expenses on training and development of employees and aims to avoid the regular process of recruitment and resignation.
Therefore, it is not advisable to leave the company once you have signed a legal bond, as you are bound by the agreement with the company. Breaching this agreement could lead to legal issues, and the company may seek to recover the bond amount. If necessary, you can discuss with HR the possibility of mutually agreeing to be relieved from the bond.
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Resignation cum relieving letter.doc