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Breaking Company Bond
Career Discussions Discuss your career related issues, future aspirations and receive guidances from our members who've been there - done that!

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Re: Breaking Company Bond - 09-06-2006, 03:05 PM

Quote:
Originally Posted by amitnsitian
@Crash_test_dummy

i have my doubts. coz that person has informed in office that he is going to join a B school...company will easily make out that its a cooked up story
I agree with Amit ... @HopeForBest ... dont ever try this at home .. err office
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rmbt rmbt is offline
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Re: Breaking Company Bond - 09-06-2006, 03:49 PM

Pal...do pay the 50K....If possible negotiate with HR people that u have almost completed the tenure.This service certificate will help you to get laterals.Also, wont leave a good image of yours in company if you run away.Then you will not be eligible for lateral


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Last edited by rmbt; 09-06-2006 at 05:27 PM.
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Re: Breaking Company Bond - 09-06-2006, 04:27 PM

Quote:
Originally Posted by Crash_test_dummy
My crooked mind has cooked up an evil scheme...

Pick a disease...your favourite one...get a medical certificate from an uncle (i dont know of anyone who doesn`t have a doctor in his entire family tree )...apply for long leave...be on leave until august. Tell your MBA adcomm that the experience letter is getting delayed coz of adminsitrative delays of your employers. Attend college...turn up at your office in august and resign...get releiving letter!
PS1: if your employer OR your college guys find out about this sceme, you`re screwed!
PS2: Unless the bond was on a stamp paper with all that legal jazz and your company has an in-house legal department etc., you`ll manage to get away even if they sue you.

Ahem...any comments, anyone?
LOL. HopeforBest wants to get out of office not into a jail..
50K is pretty less cosnidereing what u would forsake for that Dough$. you will need your experience letter for laterals and since its just under two monthsits crazy to throw it away.
Adios

Runy
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Re: Breaking Company Bond - 09-06-2006, 04:48 PM

Quote:
Originally Posted by HopeForBest
Hi Puys !!!


I entered in to a 2yr bond with a reputed IT company in August 2004. According to which i have to serve the company till August 2006.

Now i have got admission in to a good b-school. And the classes are commencing from june 12th onwards. Now i have 2 options- either to abscond and forget about releavin letter - or - pay Rs 50000 for breaking the bond, take releaving letter and go off pacefully.

Cheers
hello sir!
guessed that ur company is s *4* m.
ur problem as i understand is that even if u are ready to pay off 50k you don't have sufficient time left to complete all the formalities.

i guess the only option left is talk to the HR and pay off the cash. cos once u've paid off the company u dont have any liability.but do pay!
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Re: Breaking Company Bond - 11-06-2006, 09:26 PM

2 Years of relevent experince is quite significant to forgo. You have to settle this issue amicably with your company. From legal side, you can consult a lawyer to check whether the bond is one-sided. If so, you may get away from paying penalty with the help of a lawyer, but consider lawyer cost which may be significant.


Atul
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Re: Breaking Company Bond - 12-06-2006, 11:38 AM

Common man tell the name of g8 company u r working in may be we can help a little more :satisfie:
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Re: Breaking Company Bond - 12-06-2006, 01:29 PM

it might seem heartless and cruel on part of your HR and TLs to refuse waiving your bond despite your admit and just 2 months to go, but think about it this way: everyone wants to maintain his or her KPAs, right? It reflects badly on your project manager that there was high attrition in his project, it reflects badly on your accounts guy's performance that there's a 50K deficit in the books, it looks bad on your HR guys PA that there was an absconder he couldnt nab...no one wants his/her life to get screwed you know! they would only make an exception for you if you had a long-standing relationship with them (which you aparantly should have, but dont). So there`s very little chance of all of them making way for you...even if the HR guy agrees, the other two might not.

When i broke my bond, the project manager agreed (coz i used to get him coffee and once lent him some wierd novel i picked up from the street ) and waived it...but the HR guy decided to play spoilsport and screwed my case. FYI, i`m an "absconder". they sent me threatening emails for a few weeks and then finally sent me a termination email. Consult with a lawer before you pay up...this bond might not even be worth the paper it is written on, for all you know!

Anyways, in case you, or anyone else here, decides to break the bond without paying, here`s a piece of advice: empty your salary account immediately after you put in your papers. There's a small legal clause that allows the entity that opened the account for you (your company) to access your account. There was this case where this friend of mine refused to pay the bond amount, and the company promptly picked it up from his salary account! When he went to the bank to protest, they showed him some fine print! there were precisely 37 rupees and 79 paise in my salary account when i quit (the damn ATM would only dispense in multiples of 100!! ).


Approvals and celebrations will rarely surround your inner decisions and choices to follow Personal Truth. You will be challenged and taunted: “Who do you think you are, anyways?” And, indeed, through your choices and decisions, that is precisely the question you are answering–to yourself.
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Re: Breaking Company Bond - 12-06-2006, 02:00 PM

Hello Puys !

I am an MBA in Finance (commerce background) with 2+ years of work ex in JP Morgan, Mumbai. I am however, damn pisd off with these back-end jobs in research and hence I am contemplating a change from finance to IT Consulting.

Actually I came to know about the field of IT Consulting only after seeing a couple of ads for the profile given out by Cognizant Tech Services (CTS). I just contacted few batchmates of mine and then I came to know that it is a thriving field where you meet clients, understand their needs and help developing a software or network or blah blah as per their requirements.

In other words, you would be acting as a critical link between coders/ programmers employed in your company and the company's clients and interact with both of them and get the work done.

This has interested me great deal and I really want to get into it but I dont have any IT background and I dont know how to make an entry in the field. Is IT expertise prerequisite for this field? If yes, could I do any courses to make the change possible?

Experienced guys please bombard the thread with your views.

Thanks all.
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Crash_test_dummy Crash_test_dummy is offline
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Re: Breaking Company Bond - 12-06-2006, 03:22 PM

Quote:
Originally Posted by khatrupopat
Hello Puys !
I am an MBA in Finance (commerce background) with 2+ years of work ex in JP Morgan, Mumbai. I am however, damn pisd off with these back-end jobs in research and hence I am contemplating a change from finance to IT Consulting.
In other words, you would be acting as a critical link between coders/ programmers employed in your company and the company's clients and interact with both of them and get the work done.
This has interested me great deal and I really want to get into it but I dont have any IT background and I dont know how to make an entry in the field. Is IT expertise prerequisite for this field? If yes, could I do any courses to make the change possible?
Thanks all.
it`s difficult for non-engineering guys to get in. from what i`ve observed, even guys with MBA in marketing, finance, etc HAVE been able to enter this field, but they usually have BE/BTech as their undergrad degree. but since you have workex in a good company, you might have a chance. i`ve seen lot of IT consulting guys take up exams such as CAPM and PMP (www.pmi.org) you could do some research on that.

If the jobs at JP morgan are crappy back-end stuff, what makes you think that the jobs in IT companies are hot top-end jobs? Even IT companies outsource their backend development work to India. instead of research and accounts, it`s coding and maintainace. So be careful about what EXACTLY your profile at an IT comapny is gonna be..."IT consulting" is a very loosely used term in india.


Approvals and celebrations will rarely surround your inner decisions and choices to follow Personal Truth. You will be challenged and taunted: “Who do you think you are, anyways?” And, indeed, through your choices and decisions, that is precisely the question you are answering–to yourself.
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Re: Breaking Company Bond - 12-06-2006, 07:54 PM

Quote:
Originally Posted by uefa_007
Common man tell the name of g8 company u r working in may be we can help a little more :satisfie:
Hmmm.....tht company is none other than the one guessed by Veramaz in the post before urs
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