I am working for an MNC where I am required to sign a 2-year bond (in which, in case of discrimination, I would need to pay 2 lakhs) upon joining. Currently, I have completed 1 year and 9 months with the company. Our company has a 3-month notice period.
I would like to inquire if I can resign now and serve the remaining 3 months as part of the notice period. If I resign at this point, would I still be required to pay 2 lakhs?
Your prompt response to this matter would be greatly appreciated as this is urgent.
Thank you,
Narayana
From India, Hyderabad
Acknowledge(0)
Amend(0)
I would like to inquire if I can resign now and serve the remaining 3 months as part of the notice period. If I resign at this point, would I still be required to pay 2 lakhs?
Your prompt response to this matter would be greatly appreciated as this is urgent.
Thank you,
Narayana
From India, Hyderabad
Acknowledge(0)Amend(0)
Dear Narayana, Notice period is part of working period, in other words it is part of bond period. I think you can serve notice in three months. Regards, Rajeev Kumar Bangalore
From India, Bangalore
Acknowledge(1)Amend(0)
10From India, Bangalore
Acknowledge(1)Amend(0)
Dear Narayana, this usually depends on your company policy. Kindly consider that before assuming anything that you feel is right for you.
Understanding Employment Bonds
Bonds are made to retain an employee for a pre-defined period. Any company would not want its employee to resign during that phase, and if done so, is liable to pay the pre-fixed amount. Considering your case, I do not agree that you can resign at this stage. The moment you do so, you invite troubles for yourself. The notice period does not make part of the bonded period.
Regards,
From India, Ahmedabad
Acknowledge(0)Amend(0)
Understanding Employment Bonds
Bonds are made to retain an employee for a pre-defined period. Any company would not want its employee to resign during that phase, and if done so, is liable to pay the pre-fixed amount. Considering your case, I do not agree that you can resign at this stage. The moment you do so, you invite troubles for yourself. The notice period does not make part of the bonded period.
Regards,
From India, Ahmedabad
Acknowledge(0)Amend(0)CiteHR is an AI-augmented HR knowledge and collaboration platform, enabling HR professionals to solve real-world challenges, validate decisions, and stay ahead through collective intelligence and machine-enhanced guidance. Join Our Platform.
Withdrawl of Resignation and Notice period.doc
Resignation-Not ice Period- T._Purushotham_ Reddy_vs_United _India_Insuranc e_Company_..._o n_21_Nove.pdf