I am a B.E. computer graduate and I have joined a PSU in August '12 as I wanted a government job. However, after working in the bank, I realized that it is not the place where I can work for a lifetime. Therefore, I want to leave and pursue higher studies. I have signed a service bond of 1.5 lakh for a minimum service period of 3 years. I do not want to pay this amount and intend to leave the bank in June '13. Can you please guide me on how to make this possible?
From India, Ahmedabad
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From India, Ahmedabad
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Dear Shital,
I may not be an expert in this community, but I understand how things work when it comes to breaking a service bond. If it were a private company bond, it would be easier to break by forfeiting a month's salary or through honest negotiation or communication with the respective HR manager.
However, the situation here is government-related, making it a bit more challenging for you to proceed with the bond breakage. I regret to inform you that you would have to pay 1.5 lakh in case you decide to leave before completing the set service years.
As you know, the hiring process in the government sector is not easy for both the employer and the employee. I suggest you reconsider your decision and first discuss with your parents to explore what solutions they can offer.
All the best,
Mohit
From India, Mumbai
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1I may not be an expert in this community, but I understand how things work when it comes to breaking a service bond. If it were a private company bond, it would be easier to break by forfeiting a month's salary or through honest negotiation or communication with the respective HR manager.
However, the situation here is government-related, making it a bit more challenging for you to proceed with the bond breakage. I regret to inform you that you would have to pay 1.5 lakh in case you decide to leave before completing the set service years.
As you know, the hiring process in the government sector is not easy for both the employer and the employee. I suggest you reconsider your decision and first discuss with your parents to explore what solutions they can offer.
All the best,
Mohit
From India, Mumbai
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Dear Shital,
An organization signs a bond with an individual so that the cost of training is recovered. When any organization hires you, they give you substantial training required so that you could perform the job. This training would involve any kind of training given - classroom, extempore, seminar or lectures or whatever. They might give you technical or soft skill or communication or any training. The bonds are signed and amounts are taken (many times in advance) to discourage individuals from hopping jobs.
However, if you could convince your management that you wish to study further and hence wish to discontinue the service, there may be a chance that they relieve you sooner and perhaps let go of the amount or reduce it. However, it would be completely at the concerned authority's discretion.
From India, Mumbai
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An organization signs a bond with an individual so that the cost of training is recovered. When any organization hires you, they give you substantial training required so that you could perform the job. This training would involve any kind of training given - classroom, extempore, seminar or lectures or whatever. They might give you technical or soft skill or communication or any training. The bonds are signed and amounts are taken (many times in advance) to discourage individuals from hopping jobs.
However, if you could convince your management that you wish to study further and hence wish to discontinue the service, there may be a chance that they relieve you sooner and perhaps let go of the amount or reduce it. However, it would be completely at the concerned authority's discretion.
From India, Mumbai
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Hi Shital,
I am not an expert on this issue, but there could be another way out for your situation. I am aware that PSUs do offer study leaves. Maybe you can go on a study leave. It is basically leave without pay, but at least you won't have to pay the amount of the service bond. This is something you may want to explore further.
Best regards,
Anand
From United States, Hanover
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I am not an expert on this issue, but there could be another way out for your situation. I am aware that PSUs do offer study leaves. Maybe you can go on a study leave. It is basically leave without pay, but at least you won't have to pay the amount of the service bond. This is something you may want to explore further.
Best regards,
Anand
From United States, Hanover
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Dear Shital,
I do not agree with your comments that the job you joined is not the place for you. Will you keep on running from the realities throughout your life?
Accept that this is the job you needed most. You can do it. Relax, gather your strength, and work to achieve the targets set by yourself and not by others.
I remember someone I knew resigned from the post of junior teacher from a very reputable school. The principal asked her why she resigned if she had a better offer. She replied that she wanted to do something with her life, and the job as a junior teacher was not her destiny.
The principal replied, "Well, Miss, if you want to do something with your life, stick to one profession, and you will get what you want; otherwise, you will be lost in the mire."
And you know the principal was very right. She stuck to the teaching profession, and by the time she retired, she was among the top four principals in the country.
Please understand, you worked hard to achieve this job where others failed.
It is a matter of only three years. Once the mandatory period is complete, you will not only be at liberty to choose a better job but will have earned experience as well, and maybe you will find yourself satisfied with the progress.
Consider it as an apprenticeship that pays for your day-to-day needs and trains you as well.
Consider what I have tried to convey to you; you will not be sorry in your life. And the story is true.
From Pakistan, Lahore
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I do not agree with your comments that the job you joined is not the place for you. Will you keep on running from the realities throughout your life?
Accept that this is the job you needed most. You can do it. Relax, gather your strength, and work to achieve the targets set by yourself and not by others.
I remember someone I knew resigned from the post of junior teacher from a very reputable school. The principal asked her why she resigned if she had a better offer. She replied that she wanted to do something with her life, and the job as a junior teacher was not her destiny.
The principal replied, "Well, Miss, if you want to do something with your life, stick to one profession, and you will get what you want; otherwise, you will be lost in the mire."
And you know the principal was very right. She stuck to the teaching profession, and by the time she retired, she was among the top four principals in the country.
Please understand, you worked hard to achieve this job where others failed.
It is a matter of only three years. Once the mandatory period is complete, you will not only be at liberty to choose a better job but will have earned experience as well, and maybe you will find yourself satisfied with the progress.
Consider it as an apprenticeship that pays for your day-to-day needs and trains you as well.
Consider what I have tried to convey to you; you will not be sorry in your life. And the story is true.
From Pakistan, Lahore
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Dear Shital,
I understand your dilemma and agony. Please try to make a smooth exit without wasting money and time from either side. Here is what I have got to say to the extent of my knowledge:
- Employment and contracts may be a moral binding but not having any legal binding.
- Look for the offer letter/contract entered between you and the company which sometimes mentions the training and its incurred costs.
- Check the list of specialized skills which the company has imparted during the training/employment period.
- Please figure out the amount spent towards training and any losses you may have incurred. Maybe the company expects you to pay for this.
Above all, please consult with a lawyer on legal aspects.
Regards,
Naygam
From India, Madras
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I understand your dilemma and agony. Please try to make a smooth exit without wasting money and time from either side. Here is what I have got to say to the extent of my knowledge:
- Employment and contracts may be a moral binding but not having any legal binding.
- Look for the offer letter/contract entered between you and the company which sometimes mentions the training and its incurred costs.
- Check the list of specialized skills which the company has imparted during the training/employment period.
- Please figure out the amount spent towards training and any losses you may have incurred. Maybe the company expects you to pay for this.
Above all, please consult with a lawyer on legal aspects.
Regards,
Naygam
From India, Madras
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What a great person you are! Either you have an excellent academic record and can get a better job, or you are just facing the realities of life. Ask your parents and do what they suggest you. No one here will suggest you leave your job just because your heart is not saying yes to it. This is an HR community, and we never suggest you leave a job without any extreme condition.
Regards,
Taashi
From India, Delhi
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Regards,
Taashi
From India, Delhi
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Hi, thanks for all suggestions.
I haven't received any training yet, so there is no question that the employer has invested in me, and I haven't given anything in return. I am thinking of changing jobs, as working in a bank is considered a government job, but there is a lot of workload and issues with taking leave. It is not possible for me to stay out of home until late at night, as it often happens in a bank. Additionally, it is a transferable job, which I do not want. I knew this before, but I was under the misconception that women get transferred easily. However, after joining the bank, I realized it is not that easy.
I am considering becoming a professor after completing my master's studies, where I hope to have a peaceful life and a better job. Please suggest how I can leave the bank without paying 1.5 lakh, as this amount is substantial, and I feel it has not been invested in me.
Thank you.
From India, Ahmedabad
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I haven't received any training yet, so there is no question that the employer has invested in me, and I haven't given anything in return. I am thinking of changing jobs, as working in a bank is considered a government job, but there is a lot of workload and issues with taking leave. It is not possible for me to stay out of home until late at night, as it often happens in a bank. Additionally, it is a transferable job, which I do not want. I knew this before, but I was under the misconception that women get transferred easily. However, after joining the bank, I realized it is not that easy.
I am considering becoming a professor after completing my master's studies, where I hope to have a peaceful life and a better job. Please suggest how I can leave the bank without paying 1.5 lakh, as this amount is substantial, and I feel it has not been invested in me.
Thank you.
From India, Ahmedabad
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Dear Shital,
I'm sorry to say this... you seem to want a job with a "happy-go-lucky guy" syndrome. After a brief experience in the banking sector, you now wish to transition to the teaching profession where you'll have numerous leaves, holidays after holidays, no accountability, and where time is considered money rather than performance. Am I correct? Nowadays, bank jobs are the least desired among beginners who become aware of the working conditions, especially above the clerical levels. If this is truly what you desire, a bank job may not be suitable for you. You may need to pursue legal recourse after resigning from your current position. The outcome of any potential litigation is uncertain.
All the best.
Kumar S.
From India, Bangalore
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I'm sorry to say this... you seem to want a job with a "happy-go-lucky guy" syndrome. After a brief experience in the banking sector, you now wish to transition to the teaching profession where you'll have numerous leaves, holidays after holidays, no accountability, and where time is considered money rather than performance. Am I correct? Nowadays, bank jobs are the least desired among beginners who become aware of the working conditions, especially above the clerical levels. If this is truly what you desire, a bank job may not be suitable for you. You may need to pursue legal recourse after resigning from your current position. The outcome of any potential litigation is uncertain.
All the best.
Kumar S.
From India, Bangalore
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PENSION BREAK IN SERVICE CERTIFICATE.doc
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