Hi,
I live in mumbai and my wife works for Rolta,
She joined the company by signing a bond in which the company takes an education loan of 2.5 lakhs from a bank,This amount is deducted from the employees salary every month until 4 yrs...if the employee leaves before 4 yrs he/she has to pay the loan amount...
All this is true refer:Bank loan for training course weighs on ex-staffers of Rolta- Banking-Banking/ Finance -News By Industry-News-The Economic Times
Is this legal...
And now they are trying to force the employees to sign another bond in which the loan amount will be increased to 4 lacs and an additional 3000(apart from normal EMI) will be deposited as an garenty in the salari account, so that it can be retrieved in case of leaving the company without paying the loan...
all this and also if the company terminates your service then also you have the pay the loan amount(this is specified in the bond)!!!
the company has given a warning that "They have to sign the bond or other wise they will be terminated..."
Is all this legal..if not how are they managing to do all this with the banks help????
Please help all the people who are suffering from this(see ET article comments)
provide some link or way to complaint against this...
From India, Mumbai
I live in mumbai and my wife works for Rolta,
She joined the company by signing a bond in which the company takes an education loan of 2.5 lakhs from a bank,This amount is deducted from the employees salary every month until 4 yrs...if the employee leaves before 4 yrs he/she has to pay the loan amount...
All this is true refer:Bank loan for training course weighs on ex-staffers of Rolta- Banking-Banking/ Finance -News By Industry-News-The Economic Times
Is this legal...
And now they are trying to force the employees to sign another bond in which the loan amount will be increased to 4 lacs and an additional 3000(apart from normal EMI) will be deposited as an garenty in the salari account, so that it can be retrieved in case of leaving the company without paying the loan...
all this and also if the company terminates your service then also you have the pay the loan amount(this is specified in the bond)!!!
the company has given a warning that "They have to sign the bond or other wise they will be terminated..."
Is all this legal..if not how are they managing to do all this with the banks help????
Please help all the people who are suffering from this(see ET article comments)
provide some link or way to complaint against this...
From India, Mumbai
dear
first of all we donot think when we want employment.i would like to ask one question why people join such companies.
in that condition what is the education loan gurantee bank has taken.
this point has to be taken on large scale ,it is a example of forced labour.
regards
j s malik
I live in mumbai and my wife works for Rolta,
She joined the company by signing a bond in which the company takes an education loan of 2.5 lakhs from a bank,This amount is deducted from the employees salary every month until 4 yrs...if the employee leaves before 4 yrs he/she has to pay the loan amount...
All this is true refer:Bank loan for training course weighs on ex-staffers of Rolta- Banking-Banking/ Finance -News By Industry-News-The Economic Times
Is this legal...
And now they are trying to force the employees to sign another bond in which the loan amount will be increased to 4 lacs and an additional 3000(apart from normal EMI) will be deposited as an garenty in the salari account, so that it can be retrieved in case of leaving the company without paying the loan...
all this and also if the company terminates your service then also you have the pay the loan amount(this is specified in the bond)!!!
the company has given a warning that "They have to sign the bond or other wise they will be terminated..."
Is all this legal..if not how are they managing to do all this with the banks help????
Please help all the people who are suffering from this(see ET article comments)
provide some link or way to complaint against this...[/QUOTE]
From India, Delhi
167first of all we donot think when we want employment.i would like to ask one question why people join such companies.
in that condition what is the education loan gurantee bank has taken.
this point has to be taken on large scale ,it is a example of forced labour.
regards
j s malik
I live in mumbai and my wife works for Rolta,
She joined the company by signing a bond in which the company takes an education loan of 2.5 lakhs from a bank,This amount is deducted from the employees salary every month until 4 yrs...if the employee leaves before 4 yrs he/she has to pay the loan amount...
All this is true refer:Bank loan for training course weighs on ex-staffers of Rolta- Banking-Banking/ Finance -News By Industry-News-The Economic Times
Is this legal...
And now they are trying to force the employees to sign another bond in which the loan amount will be increased to 4 lacs and an additional 3000(apart from normal EMI) will be deposited as an garenty in the salari account, so that it can be retrieved in case of leaving the company without paying the loan...
all this and also if the company terminates your service then also you have the pay the loan amount(this is specified in the bond)!!!
the company has given a warning that "They have to sign the bond or other wise they will be terminated..."
Is all this legal..if not how are they managing to do all this with the banks help????
Please help all the people who are suffering from this(see ET article comments)
provide some link or way to complaint against this...[/QUOTE]
From India, Delhi
vijay
you should have thought b4 joining the concern.if there is a Bond u will have sign,first make a proper background verification about the company.try to meet the people who work in the company or try to find ppl who are EX employees of that concern. you can find it through the net, blogs and orkut..etc . if the company is wel known some one will open a community.u can chat with the members of that community and clarify your doubts.
at this point of time like Mr.malik i would like to say it should be taken on a large scale with the help of our citehr members.
Regards
Arun M
From India, Pondicherry
you should have thought b4 joining the concern.if there is a Bond u will have sign,first make a proper background verification about the company.try to meet the people who work in the company or try to find ppl who are EX employees of that concern. you can find it through the net, blogs and orkut..etc . if the company is wel known some one will open a community.u can chat with the members of that community and clarify your doubts.
at this point of time like Mr.malik i would like to say it should be taken on a large scale with the help of our citehr members.
Regards
Arun M
From India, Pondicherry
Dear Friend,
Apart having sympathy with the victims of this fraud being a legal guy i must say that what a good case u have under various provisions of law:
1) Civil Case: U can challenge the legality of the Bonds on the basis of Coercion, undue influence, un consionable agreement.
2) Criminal Case: Criminal breach of trust, cheating, etc.
3) Labour Case: Illegal termination etc.
Regards
From India, Vadodara
Apart having sympathy with the victims of this fraud being a legal guy i must say that what a good case u have under various provisions of law:
1) Civil Case: U can challenge the legality of the Bonds on the basis of Coercion, undue influence, un consionable agreement.
2) Criminal Case: Criminal breach of trust, cheating, etc.
3) Labour Case: Illegal termination etc.
Regards
From India, Vadodara
Dear sir,
Apart from IT where you have a choice of selecting a company,in other fields(GIS) you have limited choice, hence you have to compromise for earning a good living....
but that doesnt mean the employer can use you to his own benefit...
thats why there are laws,
any ways thanks everybody for your comments,
will consider all of your opinion once my wife is forces for signing the new bond or termination on the same basis...
[/QUOTE]
From India, Mumbai
Apart from IT where you have a choice of selecting a company,in other fields(GIS) you have limited choice, hence you have to compromise for earning a good living....
but that doesnt mean the employer can use you to his own benefit...
thats why there are laws,
any ways thanks everybody for your comments,
will consider all of your opinion once my wife is forces for signing the new bond or termination on the same basis...
[/QUOTE]
From India, Mumbai
Rolta Industires Limited is a fraud company. It traps its employee like anything. It does not give appointment letter beforehand and gives only on date of joining and it contains a very 2 year not competent clause which is loosely worded. Even HR agrees it is not valid in court.
It develops its product by purposely bidding low in all its line of business Defence, Battalefield Mangement System, OneView or Oracle ERP etc and then convert into product and (laugh) make it is intellectual property.
K K Singh CMD of company is son of doctor who chose engineering to differentiate on mothers advice, came out of cyclic steel plant business in Indore and after coming to Mumbai he has become a big chor of Knowledge of client and industry defense leaders and converting into (laugh) intellectual property and sell it!!
It has one of worst HR practices and puts new joinee in a trap.
From India, Mumbai
It develops its product by purposely bidding low in all its line of business Defence, Battalefield Mangement System, OneView or Oracle ERP etc and then convert into product and (laugh) make it is intellectual property.
K K Singh CMD of company is son of doctor who chose engineering to differentiate on mothers advice, came out of cyclic steel plant business in Indore and after coming to Mumbai he has become a big chor of Knowledge of client and industry defense leaders and converting into (laugh) intellectual property and sell it!!
It has one of worst HR practices and puts new joinee in a trap.
From India, Mumbai
Dear All,
I had signed a Employment contract as a Software engineer with more than 7 Years work exp with a Job agency to work for 12 months at Client Location. But i haven't joined yet and so didn't specified the Joining Date also.
But in the Appointment Letter it is written - "In the event of your failure thereafter to Join the company and honor the contract, the Company may initiate such action against you as deemed suitable or Advised" .
But if i don't join itself in the 1st place then how could they take any action !!
I am expecting a Job offer to come.
Please advice I can't report and not join since i have to back to my hometown and start my own business.
Thanks in advance.
From India, Pune
I had signed a Employment contract as a Software engineer with more than 7 Years work exp with a Job agency to work for 12 months at Client Location. But i haven't joined yet and so didn't specified the Joining Date also.
But in the Appointment Letter it is written - "In the event of your failure thereafter to Join the company and honor the contract, the Company may initiate such action against you as deemed suitable or Advised" .
But if i don't join itself in the 1st place then how could they take any action !!
I am expecting a Job offer to come.
Please advice I can't report and not join since i have to back to my hometown and start my own business.
Thanks in advance.
From India, Pune
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