I joined as an experienced engineer at TCS, but I have resigned after 7 months and I want to reduce the notice period as well. What are the charges or payments I have to make to the company? Do I also have to pay a bond amount?
From India, Pune
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From India, Pune
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After seven months of service, the employee has submitted his resignation in anticipation of management's acceptance. However, he has not specified the notice period as per his appointment letter or the company's regulations. If he wishes to shorten the notice period, he must formally request management or opt to buy out either the entire period or a portion of it, subject to management approval. If the buy-out is approved, he will need to pay an amount equivalent to the notice period based on his gross salary or as outlined in the regulations.
It should be noted that since he joined TCS as an experienced employee, no training would have been provided nor any bond executed. If he had signed a bond stipulating a minimum service period and resigns before its completion, he is technically required to repay the bond amount for his resignation to be accepted smoothly. He could request a waiver of the bond, or if management insists on payment, he may choose to contest it in a Civil Court as a condition for separation.
From India, Salem
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6108It should be noted that since he joined TCS as an experienced employee, no training would have been provided nor any bond executed. If he had signed a bond stipulating a minimum service period and resigns before its completion, he is technically required to repay the bond amount for his resignation to be accepted smoothly. He could request a waiver of the bond, or if management insists on payment, he may choose to contest it in a Civil Court as a condition for separation.
From India, Salem
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Withdrawl of Resignation and Notice period.doc
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