Need Help- Employment Bond
Hello all, I had to sign a 2 year bond before joining a well known IT firm of Rs. 1Lakh as a fresher. I completed my 1years and 4 months of experience and will be serving a 3 month notice period by buying out( 1month of actual serve, 1month of Leaves, 1 month of Basic pay payment). I had to resign as my company dosent have policy of Educational leave and I need to pursue my higher education. The company is ready to leave me only if I pay my bond amount of Rs. 1 Lakh. I will complete 1.7 years after my notice period then why I have to pay 1 Lakh for such a small duration? also, I have recieved Highest appraisal and recieved 2 Value awards for my performance in the organisation. I requested them to consider my Performance and duration and negotiate the amount but they are denying this and saying we cannot cosider performance for negotiations. What should I do? I need experience letter. The employer has blocked my 1 month salary for FNF settlement. Please suggest Need Immediate help! Thanks.
From United States, New York
Hello all, I had to sign a 2 year bond before joining a well known IT firm of Rs. 1Lakh as a fresher. I completed my 1years and 4 months of experience and will be serving a 3 month notice period by buying out( 1month of actual serve, 1month of Leaves, 1 month of Basic pay payment). I had to resign as my company dosent have policy of Educational leave and I need to pursue my higher education. The company is ready to leave me only if I pay my bond amount of Rs. 1 Lakh. I will complete 1.7 years after my notice period then why I have to pay 1 Lakh for such a small duration? also, I have recieved Highest appraisal and recieved 2 Value awards for my performance in the organisation. I requested them to consider my Performance and duration and negotiate the amount but they are denying this and saying we cannot cosider performance for negotiations. What should I do? I need experience letter. The employer has blocked my 1 month salary for FNF settlement. Please suggest Need Immediate help! Thanks.
From United States, New York
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
From United States, New York
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
4From India, Hyderabad
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 able to pay this amount. I have taken an educational loan which is totally on me and I cannot bare 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 1lakh aur add kar dena XXX ke liye" is it a joke????
I have served my organisation with full of dedication but they are behaving as a dectetors and not ready to negotiate any amount.
I didnt got any Special training apart from regular training which company provides for beginners. I have proven my pottential for them after that. I tried to convince them either to give me an educational leave or to rejoin the organisation after my higher studies from if I have any relevant position to work upon. But they are not listening at all.
They said we cannot issue you releaving letter before paying full bond amount.
Why the amount is not negotiated with the below mentioned points? is performance cannot be a factor for the organisations to consider and negotiate the amount??
1. High rating in my first appraisal(Excellent) with manager appraisal comments
2. Zero escalations from client and Developement of Complete module which is now giving Revenue to the company
3.Not switching to any other employer. Going for higher studies(Ready to show proof)
4.Ready to serve Notice period of 3 Months(1 month of Actual Serve, 1 month with my pending leaves and 1 Month of Basic pay) which is accepted by HR
I have my offer letter with date of Joining, Appraisal Letter with employment confirmation status, Pay slips of all months except of notice period as my salary has been blocked and IT Computation. Is it acceptable if I try to find employment in other organisations?
Please suggest
From United States, New York
I have served my organisation with full of dedication but they are behaving as a dectetors and not ready to negotiate any amount.
I didnt got any Special training apart from regular training which company provides for beginners. I have proven my pottential for them after that. I tried to convince them either to give me an educational leave or to rejoin the organisation after my higher studies from if I have any relevant position to work upon. But they are not listening at all.
They said we cannot issue you releaving letter before paying full bond amount.
Why the amount is not negotiated with the below mentioned points? is performance cannot be a factor for the organisations to consider and negotiate the amount??
1. High rating in my first appraisal(Excellent) with manager appraisal comments
2. Zero escalations from client and Developement of Complete module which is now giving Revenue to the company
3.Not switching to any other employer. Going for higher studies(Ready to show proof)
4.Ready to serve Notice period of 3 Months(1 month of Actual Serve, 1 month with my pending leaves and 1 Month of Basic pay) which is accepted by HR
I have my offer letter with date of Joining, Appraisal Letter with employment confirmation status, Pay slips of all months except of notice period as my salary has been blocked and IT Computation. Is it acceptable if I try to find employment in other organisations?
Please suggest
From United States, New York
Okay.
Thanks for your valuable help... Sorry I forgot to mention I am working in India and moving to other country for higher studies.
I dont have any resignation Letter as such but I do have screenshot of my Portal on which I put my resignation as per company's seperation process indicating Date of Resign. Reason to resign and my comments.
At worst case if i get absconded my other documents Offer letter, Appraisal letter,Payslips,IT computations and UAN no. along with the screenshots will be acceptable in my country of education for employment after my higher studies? as the employee bond is still illegal in India.
From United States, New York
Thanks for your valuable help... Sorry I forgot to mention I am working in India and moving to other country for higher studies.
I dont have any resignation Letter as such but I do have screenshot of my Portal on which I put my resignation as per company's seperation process indicating Date of Resign. Reason to resign and my comments.
At worst case if i get absconded my other documents Offer letter, Appraisal letter,Payslips,IT computations and UAN no. along with the screenshots will be acceptable in my country of education for employment after my higher studies? as the employee bond is still illegal in India.
From United States, New York
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Bond of Employment.doc
Bond in employment.pdf