Hello Seniors
I am currently working in one of the leading corporate world Companies cant update the sector here i signed a bond of two years and submitted the original Certificates to the company but i want to move out of company bond amount is 10times my monthly salary can anybody please help me in this case as i have got a chance for further studies now but due to bond i am not able to make that i want to come out of this situation now anybody please help i am a fresher employee worked for 4 months under the name of training in my offer letter it was cleared mentioned that i have to submit the documents and the documents will be returned to me at the time of exit only company have specified the one year training period for me they kept only induction programe of one month after that nothing happened want to come out of situation.They had not said bond but they said that i will have to execute an agreement.I had provided an undertaking and guarantee on 100 rs stamppaper.Please help me out
Regards
Prabodh
From India, Thane
I am currently working in one of the leading corporate world Companies cant update the sector here i signed a bond of two years and submitted the original Certificates to the company but i want to move out of company bond amount is 10times my monthly salary can anybody please help me in this case as i have got a chance for further studies now but due to bond i am not able to make that i want to come out of this situation now anybody please help i am a fresher employee worked for 4 months under the name of training in my offer letter it was cleared mentioned that i have to submit the documents and the documents will be returned to me at the time of exit only company have specified the one year training period for me they kept only induction programe of one month after that nothing happened want to come out of situation.They had not said bond but they said that i will have to execute an agreement.I had provided an undertaking and guarantee on 100 rs stamppaper.Please help me out
Regards
Prabodh
From India, Thane
Hello Prabodh1012,
In such a case going legal would involve lot of time & cost even if you win (or lose). You can have a word with HR & draw a conclusion. If the policy states that you need to pay 10times of salary, you'll have to for collecting your original documents.
It is strange that within 4 months you took decision of pursuing higher studies!! What made you join the company with SUCH CLAUSE at first place. Once agreed you must follow.
From India, Ahmedabad
204In such a case going legal would involve lot of time & cost even if you win (or lose). You can have a word with HR & draw a conclusion. If the policy states that you need to pay 10times of salary, you'll have to for collecting your original documents.
It is strange that within 4 months you took decision of pursuing higher studies!! What made you join the company with SUCH CLAUSE at first place. Once agreed you must follow.
From India, Ahmedabad
agree with you sir.some of the guys joined with me left the company in companys main office but company had not given them relieving lettet.The company was making bond upto previous year but was not keeping certificates.Only this year the company have kept
originals also heard that bond is not legal in india awaiting your reply
From India, Thane
originals also heard that bond is not legal in india awaiting your reply
From India, Thane
&sir bond will be executed as per the arbitration&consillation act 1996 in the terms&conditions of contract it is clearly stated that i will get the documents at the time of exit only or i will have to pay liquidated damages amounting 2 lakhs
From India, Thane
From India, Thane
anyone please help me can i ask for the itemized list of expenses carried by the company on me which is rarely exceeding two months salary?please provide me any solution which will help me out before making any drastic decision
From India, Thane
From India, Thane
Hi,
Do not you think that you are getting the works by forcefully from the employees when you made the agreement b/w you and employee?
How the employee will work with he-artfully?
It may leads to accidents in office premises and you made customization of employee freedom.
From India, Hyderabad
Do not you think that you are getting the works by forcefully from the employees when you made the agreement b/w you and employee?
How the employee will work with he-artfully?
It may leads to accidents in office premises and you made customization of employee freedom.
From India, Hyderabad
Dear All,
Agreement/Bond are coming into the picture with the past experiences with the employees/employers. If Employee/employer is ethical and commits to the company, Bond/agreement doesn't really required in any company. We are running behind the good CTC and other offers, not even feeling min responsibility towards our commitment/project in the current Company.
Bond doesn't mean to make an employee work forceably, it is an understanding between an employer and employee to work for a specific period for the company. If we are not interested, we shouldn't get into that in the beginning itself or consult an adviser before signing on it.
Keeping above a side, once we commit to an agreement/bond, we should follow its Terms & Conditions. First read the T&C of the Agreement/Bond, Speak to HR Deptt and explain them of your problems, what exactly the strong reason for not able to continue in the company. Even if you seek help from Legal advisers, they may file against the company, but result (win/lose) comes after years. One thing is true, employer makes agreement legally. So, get your things done smoothly from the company itself.
From India, Hyderabad
Agreement/Bond are coming into the picture with the past experiences with the employees/employers. If Employee/employer is ethical and commits to the company, Bond/agreement doesn't really required in any company. We are running behind the good CTC and other offers, not even feeling min responsibility towards our commitment/project in the current Company.
Bond doesn't mean to make an employee work forceably, it is an understanding between an employer and employee to work for a specific period for the company. If we are not interested, we shouldn't get into that in the beginning itself or consult an adviser before signing on it.
Keeping above a side, once we commit to an agreement/bond, we should follow its Terms & Conditions. First read the T&C of the Agreement/Bond, Speak to HR Deptt and explain them of your problems, what exactly the strong reason for not able to continue in the company. Even if you seek help from Legal advisers, they may file against the company, but result (win/lose) comes after years. One thing is true, employer makes agreement legally. So, get your things done smoothly from the company itself.
From India, Hyderabad
can higher study be a reason for breaking bond with payment of the cost suffered by company on my training bt me.I thing it will be better for both me and company but i require some guidance before a word with HR
From India, Thane
From India, Thane
Dear Prabodh,
Lets not get into whether bonds are legal or not; Per se they are legal. When the same has been mutually agreed & executed consciously between both the parties. Like mentioned earlier, the only option you have is to speak with your management regarding maximum relaxation they can grant. Else, you definitely will have to face the consequences.
From India, Ahmedabad
Lets not get into whether bonds are legal or not; Per se they are legal. When the same has been mutually agreed & executed consciously between both the parties. Like mentioned earlier, the only option you have is to speak with your management regarding maximum relaxation they can grant. Else, you definitely will have to face the consequences.
From India, Ahmedabad
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BOND AGREEMENT and bond demand_compress ed.pdf
Training Agreement - Bond - Draft.doc