Dear all,
If any fresher has to join a company with a bond of 3.5 lakhs for 2.5 years, then what is the actual meaning of this bond? Is it compulsory for him to work with the same company for 2.5 years? If he leaves the company after 1 or 1.5 years, then the payable amount should be 3.5 or less. What kind of action can the company take if he is paying nothing? If the company does not give the proper increment after one year, then what can the employee do?
Thank you.
From India, Vadodara
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If any fresher has to join a company with a bond of 3.5 lakhs for 2.5 years, then what is the actual meaning of this bond? Is it compulsory for him to work with the same company for 2.5 years? If he leaves the company after 1 or 1.5 years, then the payable amount should be 3.5 or less. What kind of action can the company take if he is paying nothing? If the company does not give the proper increment after one year, then what can the employee do?
Thank you.
From India, Vadodara
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Dear KCVVP01,
When a fresher executes a bond for a stipulated period and amount, it means that he has accepted to pay the bond amount if he chooses to leave the company before the stipulated period. Even if he chooses to quit one day before completion of the bond period, legally he is bound to pay the bond amount.
On the other hand, if the company wishes to waive the bond amount upon his request, then he can quit before the stipulated bond period without paying the bond amount.
Professional organizations indicate to the employee upon his joining the tentative amount he is likely to get during the bond period and upon his completion of the bond period. Please note that they also indicate that the amounts will be paid to him upon achieving performance indices each year.
M.V. KANNAN
From India, Madras
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270When a fresher executes a bond for a stipulated period and amount, it means that he has accepted to pay the bond amount if he chooses to leave the company before the stipulated period. Even if he chooses to quit one day before completion of the bond period, legally he is bound to pay the bond amount.
On the other hand, if the company wishes to waive the bond amount upon his request, then he can quit before the stipulated bond period without paying the bond amount.
Professional organizations indicate to the employee upon his joining the tentative amount he is likely to get during the bond period and upon his completion of the bond period. Please note that they also indicate that the amounts will be paid to him upon achieving performance indices each year.
M.V. KANNAN
From India, Madras
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I joined a leading MNC BPO after 2 days of training. I came to my native place and I don't want to work there anymore. During the introduction, they gave me a book and asked me to sign all the pages, which I did. When I returned to my native place, they called me and demanded 50,000 rupees if I wanted to be relieved from the job. They claimed that the book I signed was a bond. I don't know what to do. They are threatening me to pay, or else a notice will be given. Can anyone please suggest what I should do?
Thank you.
From India, Coimbatore
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Thank you.
From India, Coimbatore
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