shubhamnagar51@gmail.com
hi.
i need to know about service level agreement which i have signed with a IT firm on stamp paper 1 lakh rupee and work for company for 2 year.now i break this bond and i dont need any exit letter ,reliving letter, my pf money and my experince certificate. so In this sistuation i need to pay bond amount. or any path that i can get over this and not to pay any money to them.please suggest

From India, Thane
tsivasankaran
368

If you do not want any certificate and dues from your employer, you can simply abscond. But legally, the Company can still sue you in a court of law. They can even obtain an interim stay. They can legally collect the money from you.
From India, Chennai
nathrao
3131

Employers always look for methods to keep the employee working in their company, for as long as possible time or for a reasonable time like 1 year and thus check attrition costs and fresh recruitment overheads. From purely business point of view the employee under service agreement/bond shall be economical, easier to handle etc.
Has your company incurred any special or training expenditure-like sending you abroad for course/training etc?
My opinion on this issue:
Execution of service-bond to restrain the employee from changing over to better job opportunity is clearly a violation of Section 27 of the Contract Act1872.It is equally a violation of Article 19 of the Constitution,which guarantees right to work.I may also mention that , some courts have ordered recovery of actual reasonable loss(quantifiable) from the employee e.g. recovery of specific training cost.
Depending on facts of your specific case only answers can be given by learned members.

From India, Pune
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.





Contact Us Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2024 CiteHR ®

All Copyright And Trademarks in Posts Held By Respective Owners.