Hello
I joined a organisation with 2 year employment bond when i joined the organisation in the service letter they have written if you want to terminate your employment within 24 months you have to pay 2.5 lakh or training amount which employer will invest in you.Now after 6 months i have better opportunity somewhere and i want to break the bond.i am ready to pay them 2.5 lakh .i talk to my hr and told this i am ready to pay the bond amount just terminate my employment immediately but she said i have to serve the notice period of 3 months . I also told her to reduce the notice period time or 1 will serve 1 month and buyout 2 months notice period. She said employer has discretion over notice period basically said no. Now i want to join my new company .if i joined new company and only pay bond amount and skip notice period as i don't want experience letter joining new organization as fresher.so could it create any problem and i have uan no. Which is created by my current employer so will my new employer will be able to get any info about my previous employer or creates any problem .i joining there as fresher I didn't tell them my employment history
From India, Delhi
I joined a organisation with 2 year employment bond when i joined the organisation in the service letter they have written if you want to terminate your employment within 24 months you have to pay 2.5 lakh or training amount which employer will invest in you.Now after 6 months i have better opportunity somewhere and i want to break the bond.i am ready to pay them 2.5 lakh .i talk to my hr and told this i am ready to pay the bond amount just terminate my employment immediately but she said i have to serve the notice period of 3 months . I also told her to reduce the notice period time or 1 will serve 1 month and buyout 2 months notice period. She said employer has discretion over notice period basically said no. Now i want to join my new company .if i joined new company and only pay bond amount and skip notice period as i don't want experience letter joining new organization as fresher.so could it create any problem and i have uan no. Which is created by my current employer so will my new employer will be able to get any info about my previous employer or creates any problem .i joining there as fresher I didn't tell them my employment history
From India, Delhi
The bond period and notice period runs concurrently. If the amount of Rs. 2.5 Lakh is more than your salary for the notice period, then the employer cannot insist on separate payment for notice period. The employer cannot doubly benefit itself, that is the principle of law. Since you have a UAN and if you are within the coverage limit, your next employer will come to know of your previous employment history. Jumping the notice period is not recommended in such cases.
From India, Mumbai
1530From India, Mumbai
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
Bond of Employment.doc
Bond in employment.pdf