Dear Sir, I joined XYZ company in March 2009 and signed a bond for three years. It is mentioned that if I leave the company before completing three years, I have to pay a certain amount as Liquidated Damages to the company. However, it is not mentioned what I will receive if I complete the full three years. This indicates that the bond is one-sided and favors only the employer.
At the time of joining, I signed two different letters: a Service Bond and an Appointment Letter. In my appointment letter, there is no mention of the Service Bond. Now, I wish to leave this company, and only 4.5 months are remaining in completing the service bond period, but my company is insisting on the total amount as specified in the bond.
I seek your assistance in resolving this issue.
Regards.
From India, Vadodara
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At the time of joining, I signed two different letters: a Service Bond and an Appointment Letter. In my appointment letter, there is no mention of the Service Bond. Now, I wish to leave this company, and only 4.5 months are remaining in completing the service bond period, but my company is insisting on the total amount as specified in the bond.
I seek your assistance in resolving this issue.
Regards.
From India, Vadodara
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In India, Bonds are not legal, you have complete right to leave company at any time. Regards, Santosh
From India, Hyderabad
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1From India, Hyderabad
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I agree with your point. The company should mention the benefits provided if they ask you to leave. If such benefits are not specified, it may result in a one-sided bond with low validity. However, if you choose to leave before completing your term, they may send legal notices to you and your new employer. No employer wants such complications; hence, it is advisable to seek legal advice before making any decisions.
Regards,
Kamesh
From India, Hyderabad
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Regards,
Kamesh
From India, Hyderabad
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