Hi all, I got a new opportunity in one of MNCs, but in my current organization I have a bond of 3 yrs or else have to pay 5 lakh, what to do? What should I say to my current organization? I am getting a good offer. But I don't want to pay 5 lakh, I joined my current organization 5.5 months back
From India, Mysore
From India, Mysore
Dear friend,
Hope you would have signed the bond with your eyes and mind fully open. Therefore, your oscillating tendency to shift jobs within the bond period of three years dictated by more attractive offers should be compatible with the terms and conditions of the employment bond in force.
Of course the justifiability of the value of the bond amount can be questioned in a Court of Law, if it is too excessive compared to the costs of recruitment and training incurred by the employer on your engagement and the length of service you rendered so far. But it would be a time consuming process and would not serve any immediate purpose.
Better you may negotiate with the present employer for waiver in full or part.
What if the new employer also asks for the execution of a similar bond?
The grass is always greener on the other side. So try to be conscious of the effects of employment bonds and avoid job hopping for the sake of money.
From India, Salem
6018Hope you would have signed the bond with your eyes and mind fully open. Therefore, your oscillating tendency to shift jobs within the bond period of three years dictated by more attractive offers should be compatible with the terms and conditions of the employment bond in force.
Of course the justifiability of the value of the bond amount can be questioned in a Court of Law, if it is too excessive compared to the costs of recruitment and training incurred by the employer on your engagement and the length of service you rendered so far. But it would be a time consuming process and would not serve any immediate purpose.
Better you may negotiate with the present employer for waiver in full or part.
What if the new employer also asks for the execution of a similar bond?
The grass is always greener on the other side. So try to be conscious of the effects of employment bonds and avoid job hopping for the sake of money.
From India, Salem
The bond or payment comes because of following happenings.
1. Reliability - Employer, when he appoints someone, relies on him that he will be available for work whenever he requires, during the bond period. When he leaves during the bond period, the calculations of employer go wrong. Employer has to rearrange all over again. His business suffers. What is the price for that.
2. What is the reason for leaving? Is it with Employer or Employee? If it is with Employer then let Employer suffer because it is his folly. If the Employee is wrong, why should he punish the Emloyer? If Employer removes the Employee during bond period, Employee can insist that he has calculated his career and either Employer compensate for the loss in career of retains him till end of bond period. Bond is a contract. Whoever breaks it has to compensate other. The amount of compensation can be mutually decided. Once decided, and signed, no one can challenge.
3. Normally bond is for special employees. Not for all employees. Everyone should understand that we should not undermine the importance of our speciality.
Vibhakar Ramtirthkar.
From India, Pune
1. Reliability - Employer, when he appoints someone, relies on him that he will be available for work whenever he requires, during the bond period. When he leaves during the bond period, the calculations of employer go wrong. Employer has to rearrange all over again. His business suffers. What is the price for that.
2. What is the reason for leaving? Is it with Employer or Employee? If it is with Employer then let Employer suffer because it is his folly. If the Employee is wrong, why should he punish the Emloyer? If Employer removes the Employee during bond period, Employee can insist that he has calculated his career and either Employer compensate for the loss in career of retains him till end of bond period. Bond is a contract. Whoever breaks it has to compensate other. The amount of compensation can be mutually decided. Once decided, and signed, no one can challenge.
3. Normally bond is for special employees. Not for all employees. Everyone should understand that we should not undermine the importance of our speciality.
Vibhakar Ramtirthkar.
From India, Pune
Dear Questioner
You have just worked 5.5 months and start looking other job. In such a small period you are not even able to understand the organization. An employer after appointing a person close his search for another employee. Think vise a versa condition if employer ask you to leave the job and you have to run your family what will you do in that situation. This is the reason employer are forced to take this kind of measure.
Being an employer I always see longevity of job of job seeker in other organization.
Thanks
From India, Delhi
You have just worked 5.5 months and start looking other job. In such a small period you are not even able to understand the organization. An employer after appointing a person close his search for another employee. Think vise a versa condition if employer ask you to leave the job and you have to run your family what will you do in that situation. This is the reason employer are forced to take this kind of measure.
Being an employer I always see longevity of job of job seeker in other organization.
Thanks
From India, Delhi
Deer Anindya,
When you have signed the bond of 3 years with a particular company which says that you will work with that company for three years, the employer is relaxed and thinks that there is somebody to take care of his company's work for three years.
All of a sudden after 5.5 months only of work you start leaving the company and since you have got a good opportunity shows that you are only thinking about your own benefits and growth in life.
What if the the company where you have got an opportunity also thinks the same way and removes you from service after 2 months of working stating that
“ an employee who is not loyal to his previous organization, will also not be loyal to our organization, so it is better to not invest in training such kind of employee in our organization”
so think about this twice and then take up step ahead.
From
Radius Enterprise Solutions, Mumbai.
We provide HR & Labour Law Compliance Management Services to different companies in Mumbai and outside Mumbai.
For more details you can go through our website- https://square-jobs.com/hr-services/
Email ID-
Mob no- 9819228732
From India
When you have signed the bond of 3 years with a particular company which says that you will work with that company for three years, the employer is relaxed and thinks that there is somebody to take care of his company's work for three years.
All of a sudden after 5.5 months only of work you start leaving the company and since you have got a good opportunity shows that you are only thinking about your own benefits and growth in life.
What if the the company where you have got an opportunity also thinks the same way and removes you from service after 2 months of working stating that
“ an employee who is not loyal to his previous organization, will also not be loyal to our organization, so it is better to not invest in training such kind of employee in our organization”
so think about this twice and then take up step ahead.
From
Radius Enterprise Solutions, Mumbai.
We provide HR & Labour Law Compliance Management Services to different companies in Mumbai and outside Mumbai.
For more details you can go through our website- https://square-jobs.com/hr-services/
Email ID-
Mob no- 9819228732
From India
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Bond letter.doc