Hello Everyone,
I am working at an IT company, and I entered into an agreement for a minimum committed period of 2 years. However, I have now received a very good opportunity. My commitment period is set to finish on September 22, 2016, and I tendered my resignation on August 5th. The company is now requesting 100,000/- Rs. as agreement money since I have only one month left to complete my commitment.
Please advise me on what I should do as my financial condition is very poor.
Thank you in advance.
Regards, Aniruddh
From India, Bhopal
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I am working at an IT company, and I entered into an agreement for a minimum committed period of 2 years. However, I have now received a very good opportunity. My commitment period is set to finish on September 22, 2016, and I tendered my resignation on August 5th. The company is now requesting 100,000/- Rs. as agreement money since I have only one month left to complete my commitment.
Please advise me on what I should do as my financial condition is very poor.
Thank you in advance.
Regards, Aniruddh
From India, Bhopal
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Hello Everyone,
I am working at an IT company and I entered into an agreement for a minimum committed period of 2 years. However, I have now received a very good opportunity, and my commitment period will end on 22nd September 2016. I submitted my resignation on 5th August 2016.
The company is now demanding 100,000/- Rs. as agreement money since I have only one month left to fulfill my commitment. I am in a very poor financial condition.
Please advise me on what I should do in this situation. This is a very frustrating moment for me, and I am seeking your help to recover from this.
Thanks a lot in advance.
Regards,
Aniruddh
From India, Bhopal
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I am working at an IT company and I entered into an agreement for a minimum committed period of 2 years. However, I have now received a very good opportunity, and my commitment period will end on 22nd September 2016. I submitted my resignation on 5th August 2016.
The company is now demanding 100,000/- Rs. as agreement money since I have only one month left to fulfill my commitment. I am in a very poor financial condition.
Please advise me on what I should do in this situation. This is a very frustrating moment for me, and I am seeking your help to recover from this.
Thanks a lot in advance.
Regards,
Aniruddh
From India, Bhopal
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Dear Mr. Aniruddh,
At the time of joining, you will sign all the documents invariably and in a hurry to get a job. After working for 1 to 2 years, you will gain confidence, start searching, and upon confirmation from the new employer, you will begin looking to move on. If you analyze, you are always in a hurry in all assignments.
If you think calmly, you would have waited for one more month or negotiated with the new employer to obtain an extension for one more month to join. You could have also negotiated with the prospective employer for reimbursement of the amount of Rs. 1 lakh, as nowadays, organizations are often willing to reimburse bond amounts, buy back notice periods, clear loans, etc. You should approach the HR, Director, or Head of the organization with the support of your boss. If your boss is not willing to support, then your options are limited to paying the amount, seeking an extension from your new employer, or negotiating reimbursement for the amount due to your current employer.
The last resort would be to pursue legal action, but it is time-consuming and could limit your career options, as the world is small in the age of technology, making it difficult to keep information confidential, and very few employers are willing to take such risks.
Thank you.
From India, Hyderabad
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212At the time of joining, you will sign all the documents invariably and in a hurry to get a job. After working for 1 to 2 years, you will gain confidence, start searching, and upon confirmation from the new employer, you will begin looking to move on. If you analyze, you are always in a hurry in all assignments.
If you think calmly, you would have waited for one more month or negotiated with the new employer to obtain an extension for one more month to join. You could have also negotiated with the prospective employer for reimbursement of the amount of Rs. 1 lakh, as nowadays, organizations are often willing to reimburse bond amounts, buy back notice periods, clear loans, etc. You should approach the HR, Director, or Head of the organization with the support of your boss. If your boss is not willing to support, then your options are limited to paying the amount, seeking an extension from your new employer, or negotiating reimbursement for the amount due to your current employer.
The last resort would be to pursue legal action, but it is time-consuming and could limit your career options, as the world is small in the age of technology, making it difficult to keep information confidential, and very few employers are willing to take such risks.
Thank you.
From India, Hyderabad
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Dear Aniruddh,
Kindly go through your agreement/appointment letter clause for leaving the services. What is the notice period mentioned? If you are breaking the agreement, you will not be eligible for an experience/relieving letter, salary will be kept on hold. PF part is online and can be transferred, so do not worry about the same. As per general practices, all these types of bonds are not valid.
Have you spoken about this agreement to the offered company? Kindly discuss the same with them and subsequently, you should have discussed with your HR also. You need to make a calculative call and proceed accordingly.
Regards,
Omkar Jambhekar
"The best preparation for tomorrow is doing your best today."
From India, Delhi
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Kindly go through your agreement/appointment letter clause for leaving the services. What is the notice period mentioned? If you are breaking the agreement, you will not be eligible for an experience/relieving letter, salary will be kept on hold. PF part is online and can be transferred, so do not worry about the same. As per general practices, all these types of bonds are not valid.
Have you spoken about this agreement to the offered company? Kindly discuss the same with them and subsequently, you should have discussed with your HR also. You need to make a calculative call and proceed accordingly.
Regards,
Omkar Jambhekar
"The best preparation for tomorrow is doing your best today."
From India, Delhi
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Dear Sir,
Thank you all for replying. The notice period is two months as mentioned in the appointment letter. If I do not provide an experience letter and relieving to the company that offered me the position, I do not think the company will agree.
I would also like to mention that I have already submitted my original documents to the company. Currently, I am willing to pay Rs. 100,000. However, I am still being asked for a two-month notice period, even though I have already completed one month of service.
Please guide me on this matter.
Thanks and Regards,
Aniruddh
From India, Bhopal
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Thank you all for replying. The notice period is two months as mentioned in the appointment letter. If I do not provide an experience letter and relieving to the company that offered me the position, I do not think the company will agree.
I would also like to mention that I have already submitted my original documents to the company. Currently, I am willing to pay Rs. 100,000. However, I am still being asked for a two-month notice period, even though I have already completed one month of service.
Please guide me on this matter.
Thanks and Regards,
Aniruddh
From India, Bhopal
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Dear Aniruddh,
Legal agreements, terms of appointment, and compliance of the same are important, but fulfilling commitments as part of a personal value system holds additional significance and is highly valued, whether by an individual or within the corporate world.
You should reflect on the gains and learnings you have acquired during your two-year tenure at the present company. Your future employer will benefit from the knowledge and experiences you have gathered here. Having already attained a certain level of pride that enhances your employability, you are indeed a valuable asset. However, when the time comes for you to move on, it is advisable to leave gracefully. While it may seem simple for you or your future employer to pay a sum of Rs. one lakh for your departure, it is not recommended. It is better to complete the full two years and a few additional months, explore better opportunities with prospective employers, and depart on a positive note without any controversies.
God bless you, and I wish you all the best!
Regards,
RDS Yadav
Director,
Future Institute of Management and Technology
Director,
Navtarang HR Services
navtaranghrs@gmail.com
From India, Delhi
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Legal agreements, terms of appointment, and compliance of the same are important, but fulfilling commitments as part of a personal value system holds additional significance and is highly valued, whether by an individual or within the corporate world.
You should reflect on the gains and learnings you have acquired during your two-year tenure at the present company. Your future employer will benefit from the knowledge and experiences you have gathered here. Having already attained a certain level of pride that enhances your employability, you are indeed a valuable asset. However, when the time comes for you to move on, it is advisable to leave gracefully. While it may seem simple for you or your future employer to pay a sum of Rs. one lakh for your departure, it is not recommended. It is better to complete the full two years and a few additional months, explore better opportunities with prospective employers, and depart on a positive note without any controversies.
God bless you, and I wish you all the best!
Regards,
RDS Yadav
Director,
Future Institute of Management and Technology
Director,
Navtarang HR Services
navtaranghrs@gmail.com
From India, Delhi
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can any one share for rain water harvesting details to write a letter to BWSSB Kindly help us out in this regard
From India, Bangalore
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From India, Bangalore
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Most of the younger generation with higher academic qualifications and professional acumen conveniently forget that they owe certain commitments to their employers who make them employable. In fact, one's employability, like my learned friend Yadav said, is the result of the training imparted and the opportunities of learning by trial and error graciously offered by the employer under the fond hope of minimum loyalty from the employee at least for some years of assured service. The purpose of employment bond is only this kind of minimum assurance and commitment from the novices and not tapping money from them when they leave for better avenues.
After executing a bond, one cannot retract, saying that in excess of enthusiasm or urge for getting a job, he signed it without knowing or exactly understanding the contents just for waiver for the sake of his later benefits.
The financial condition, which was very poor at the initial post, seems to have improved to the level of paying the entire bond amount during his subsequent post. If so, why not he buy out the entire notice period and walk out straight away with everything due to him? (This remark is not meant to justify the employer's holding back of educational certificates of the poster but only to highlight his mood swings and hasty decision-making.)
No crying over spilt milk. At this juncture, it is better for you, Anirudh, to get an extension of joining time from the prospective employer, complete the bond tenure as well as notice period, and leave the present organization peacefully as advised by Mr. RDS Yadav.
From India, Salem
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After executing a bond, one cannot retract, saying that in excess of enthusiasm or urge for getting a job, he signed it without knowing or exactly understanding the contents just for waiver for the sake of his later benefits.
The financial condition, which was very poor at the initial post, seems to have improved to the level of paying the entire bond amount during his subsequent post. If so, why not he buy out the entire notice period and walk out straight away with everything due to him? (This remark is not meant to justify the employer's holding back of educational certificates of the poster but only to highlight his mood swings and hasty decision-making.)
No crying over spilt milk. At this juncture, it is better for you, Anirudh, to get an extension of joining time from the prospective employer, complete the bond tenure as well as notice period, and leave the present organization peacefully as advised by Mr. RDS Yadav.
From India, Salem
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