Hello all,
I had to sign a 2-year bond before joining a well-known IT firm for Rs. 1 Lakh as a fresher. I completed 1 year and 4 months of experience and will be serving a 3-month notice period by buying out (1 month of actual service, 1 month of leaves, 1 month of basic pay payment). I had to resign as my company doesn't have a policy of educational leave, and I need to pursue my higher education. The company is ready to release me only if I pay my bond amount of Rs. 1 Lakh. I will complete 1.7 years after my notice period, so why do I have to pay 1 Lakh for such a small duration? Also, I have received the highest appraisal and two Value awards for my performance in the organization. I requested them to consider my performance and duration and negotiate the amount, but they are denying this and saying we cannot consider performance for negotiations. What should I do? I need an experience letter. The employer has blocked my 1-month salary for FNF settlement. Please suggest. Need immediate help!
Thanks.
From United States, New York
Acknowledge(0)
Amend(0)
I had to sign a 2-year bond before joining a well-known IT firm for Rs. 1 Lakh as a fresher. I completed 1 year and 4 months of experience and will be serving a 3-month notice period by buying out (1 month of actual service, 1 month of leaves, 1 month of basic pay payment). I had to resign as my company doesn't have a policy of educational leave, and I need to pursue my higher education. The company is ready to release me only if I pay my bond amount of Rs. 1 Lakh. I will complete 1.7 years after my notice period, so why do I have to pay 1 Lakh for such a small duration? Also, I have received the highest appraisal and two Value awards for my performance in the organization. I requested them to consider my performance and duration and negotiate the amount, but they are denying this and saying we cannot consider performance for negotiations. What should I do? I need an experience letter. The employer has blocked my 1-month salary for FNF settlement. Please suggest. Need immediate help!
Thanks.
From United States, New York
Acknowledge(0)Amend(0)
Can please anyone help me on this issue? Please suggest what option i can have? Acknowledgement will be really helpful
From United States, New York
Acknowledge(0)Amend(0)
From United States, New York
Acknowledge(0)Amend(0)
you may consult a legal adviser and proceed with their instructions or else complaint to labour department regarding this issue they will solve this problem. santhosh reddy
From India, Hyderabad
Acknowledge(0)Amend(0)
4From India, Hyderabad
Acknowledge(0)Amend(0)
I have been polite and helpful with my approach, but now this pressure to pay 1 Lakh is affecting my and family's health. My parents are both retired from their services and they cannot afford to pay this amount. I have taken an educational loan which is totally on me, and I cannot bear any extra amount as I need money for my higher studies. I made HR aware of this, and the response I got was "yaar 30 lakh to le hi lie hai loan ke, usme 1 lakh aur add kar dena XXX ke liye" - is it a joke???
I have served my organization with full dedication, but they are behaving like detractors and are not ready to negotiate any amount. I didn't receive any special training apart from the regular training provided by the company for beginners. I have proven my potential to them after that. I tried to convince them to either grant me an educational leave or allow me to rejoin the organization after my higher studies in a relevant position. However, they are not listening at all. They said we cannot issue you a relieving letter before paying the full bond amount.
Why is the amount not being negotiated with the below-mentioned points? Is performance not a factor for organizations to consider and negotiate the amount?
1. High rating in my first appraisal (Excellent) with manager appraisal comments.
2. Zero escalations from clients and development of a complete module that is now generating revenue for the company.
3. Not switching to any other employer but going for higher studies (ready to show proof).
4. Ready to serve a notice period of 3 months (1 month of actual service, 1 month with my pending leaves, and 1 month of basic pay) which has been accepted by HR.
I have my offer letter with the date of joining, an appraisal letter with employment confirmation status, payslips of all months except the notice period as my salary has been blocked, and IT computation. Is it acceptable if I try to find employment in other organizations?
Please suggest.
From United States, New York
Acknowledge(0)Amend(0)
I have served my organization with full dedication, but they are behaving like detractors and are not ready to negotiate any amount. I didn't receive any special training apart from the regular training provided by the company for beginners. I have proven my potential to them after that. I tried to convince them to either grant me an educational leave or allow me to rejoin the organization after my higher studies in a relevant position. However, they are not listening at all. They said we cannot issue you a relieving letter before paying the full bond amount.
Why is the amount not being negotiated with the below-mentioned points? Is performance not a factor for organizations to consider and negotiate the amount?
1. High rating in my first appraisal (Excellent) with manager appraisal comments.
2. Zero escalations from clients and development of a complete module that is now generating revenue for the company.
3. Not switching to any other employer but going for higher studies (ready to show proof).
4. Ready to serve a notice period of 3 months (1 month of actual service, 1 month with my pending leaves, and 1 month of basic pay) which has been accepted by HR.
I have my offer letter with the date of joining, an appraisal letter with employment confirmation status, payslips of all months except the notice period as my salary has been blocked, and IT computation. Is it acceptable if I try to find employment in other organizations?
Please suggest.
From United States, New York
Acknowledge(0)Amend(0)
Thank you for your valuable help. I apologize for forgetting to mention that I am currently working in India and will be relocating to another country for further studies. I do not have a formal resignation letter, but I do have a screenshot of my employee portal which shows my resignation details as per the company's separation process. This includes the date of resignation, reasons for resigning, and my comments.
In the worst-case scenario, if I am considered absconded, would my other documents such as the offer letter, appraisal letter, payslips, income tax computations, UAN number, and the aforementioned screenshots be sufficient in my future country of education for employment after completing my higher studies? I am asking this because employee bonds are still illegal in India.
From United States, New York
Acknowledge(0)Amend(0)
In the worst-case scenario, if I am considered absconded, would my other documents such as the offer letter, appraisal letter, payslips, income tax computations, UAN number, and the aforementioned screenshots be sufficient in my future country of education for employment after completing my higher studies? I am asking this because employee bonds are still illegal in India.
From United States, New York
Acknowledge(0)Amend(0)Looking for something specific? - Join & Be Part Of Our Community and get connected with the right people who can help. Our AI-powered platform provides real-time fact-checking, peer-reviewed insights, and a vast historical knowledge base to support your search.