Hi all, This is nikki, i am a 2010 passout engineering student.Two weeks back i joined in a job in software company by signing 3 yrs of bond.in that it specified that i should work for 3 yrs there.if i beach the bond i should pay 1.5 lac amou…
Hi all,
This is nikki, i am a 2010 passout engineering student.Two weeks back i joined in a job in software company by signing 3 yrs of bond.in that it specified that i should work for 3 yrs there.if i beach the bond i should pay 1.5 lac amount else they would file case on me in court.now i got good job in MNC.i wanna join ther. if i quit this job ll they file case on me in court.i am just fearing about that.can anyone tel me the solution.wheather employement bond is legal.will it work on court..pls guyz do help me.i signed in 20rupees bond sheet..pls do help me...
Thanks
Nikki sam
Hi all,
This is nikki, i am a 2010 passout engineering student.Two weeks back i joined in a job in software company by signing 3 yrs of bond.in that it specified that i should work for 3 yrs there.if i beach the bond i should pay 1.5 lac amount else they would file case on me in court.now i got good job in MNC.i wanna join ther. if i quit this job ll they file case on me in court.i am just fearing about that.can anyone tel me the solution.wheather employement bond is legal.will it work on court..pls guyz do help me.i signed in 20rupees bond sheet..pls do help me...
Thanks
Nikki sam
Yes, breaching of a corporate bond could very well land you in court unless you are willing to sacrifice the bond money. The companies are smart enough to sense the situation that you are in. Basically a company invests on you by giving training and thus doesn't want employees taking training, getting paid and ending up joining bigger, better companies.
Well, there is a way out here which depends on the company you are in as companies sack the guys who under-perform in the training. So if you wish you could try that option out as because if a company fires you within the bond period they give you the money back(entirely or a fraction of it depends on the company policy) along with an experience certificate(again that depends on the company).
I would say that the proposition is risky, and should not be tried out until and unless the company you wish to join is pretty good. Best of luck.
but i heard employment bond is not legal in india...and its not enforceable...if i breach ll the employer sue me..
smartnikki Saysbut i heard employment bond is not legal in india...and its not enforceable...if i breach ll the employer sue me..
What I know is that they can sue you if they want to. But in case of the big companies, they dont waste time in such futile things. Some of them take the money directly at the time of joining or make you take a loan from a bank. If you could have mentioned the name of the company it would have been better. But yes, breaching a bond has its implications. The sole reason to have a bond is to prevent attrition.
Sam,
In India employment bond has no value, but in future if u want to work with Infosys then it will be a problem............ otherwise u can break the bond.
Rs 20 ke stamp paper pe affidavit hota hai bus, if u dont want to break the bond then get terminated.
my company is not that much big company..its a us based company.i cant tel that company name.but if u really want means jsu give ur mail id i ll send u there..
no need to worry they wont do anything, u can chase ur dream
see i am a fresher.jus 2 weeks before only i joined here..i don want reliving letter or anything.can i quit the job without intimating..will it cause any problem.?
thanks dude..can i quit it without intimating.i jus signed is my problem..can u tel if u met with like this scenarios..
I broke the bond once, no need to intimate them or if u want to do intimate them u can 
that time what was their response..
hi i have given 2 lac check as surety for working a period of 3 years now college has not paid one month salray i have breaked the bond can any one suggest the consequences to be faced
imran1210 Sayshi i have given 2 lac check as surety for working a period of 3 years now college has not paid one month salray i have breaked the bond can any one suggest the consequences to be faced
whats there in the terms & conditions ? have a look at that and decide. normally no one would care, it will take a lot of time in court.
dear all I am also in smilar situation.
I have signed a bond of (1 lakh) with NOMUS Comm-systems company for 18 months. Which includes 6 months training + 12 months service. During training i was offered Rs 5000 pm. and after that during service Rs 10000.
But on completion of my training I was told that " Salary rise would be given in OCT due to ESIC clause". I had joined the company in JAN and should get rise from JUL.
I raised my concerns, as to why the company is not giving me rise as mentioned in bond and would like to leave. They first declined and told me it is not possible and at the max only 70% of total rise in salary can be paid.
But latter on they found out that due to their admistrative lapase or Purposely they did not give my appointment letter and receive my signature on the same.
They immediately changed their statement and told me that they would give me full total rise amount of salary as advance and latter on adjust the same.
But still I am not satisfied or do not want to compromise and do not trust the company any more. Hence want to break the bond and leave. I do not want any releving letter.
Can I leave without any legal hassle. Or can they still take legal actions.?
If yes How? Should I intimate them in writing.
And I thank admistrators who have put up this forum. Because Atleast you know that there are many people with similar situations. Because in such situation you always feel left-out.
This is my first thread in this community and i request the mods not to remove it.Its an important matter for me.
A month ago I joined a company by campus recruitment.I was selected for Electronics based profile.However after joining the company i was told that i would be in Sales.It was a Rocket Singh kind of a job.
The company did not inform me about my job profile before making me sign the bond(On stamp paper).I went to my division and worked for 3 weeks and then i left(Aboscond).It was only logical to abscond as i had worked for only 3 weeks.(3 weeks work exp does not matter)
Now i want to pursue my MBA so i want to know will B-schools conduct background checks(As i have absconded)?????
Also will the company take action against me as it was a 1 lakh bond???
This is my first thread in this community and i request the mods not to remove it.Its an important matter for me.
A month ago I joined a company by campus recruitment.I was selected for Electronics based profile.However after joining the company i was told that i would be in Sales.It was a Rocket Singh kind of a job.
The company did not inform me about my job profile before making me sign the bond(On stamp paper).I went to my division and worked for 3 weeks and then i left(Aboscond).It was only logical to abscond as i had worked for only 3 weeks.(3 weeks work exp does not matter)
Now i want to pursue my MBA so i want to know will B-schools conduct background checks(As i have absconded)?????
Also will the company take action against me as it was a 1 lakh bond???
Don't know abt ur company but am working in TCS and can tell you about the policies followed here...You need to pay the bond amount only if you want to get the experience certificate...I have seen many cases where ppl have fled after 2-3 months w/o paying the bond amount...And as far as b-schools are concerned, they will get to know that you worked in a XYZ compant only if you tell them....So relax!
Any info will be appreciated!
I am in a bond and I want to quit this instant. My bond completes on 28th April 2012 and I need to give 2 months notice period if I resign or pay 2 months basic salary to be relieved this instant.
Now my query is: Can I submit my resignation letter on 28th Feb 2012, serve two months notice period till 28th April 2012, and be relieved without paying the bond amount on 28th April.
the other foolish but tempting way is to resign right now, just 2 months from the day bond completes, and give the heavy bond amount + 2 months basic salary
Any ASAP response will be highly blessed
Any info will be appreciated!
I am in a bond and I want to quit this instant. My bond completes on 28th April 2012 and I need to give 2 months notice period if I resign or pay 2 months basic salary to be relieved this instant.
Now my query is: Can I submit my resignation letter on 28th Feb 2012, serve two months notice period till 28th April 2012, and be relieved without paying the bond amount on 28th April.
the other foolish but tempting way is to resign right now, just 2 months from the day bond completes, and give the heavy bond amount + 2 months basic salary
Any ASAP response will be highly blessed
If you are sure that you are going to resign, then my suggestion would be to wait for two months...Don't do any work and take the salary...After two months, resign and go away w/o paying any bond amount...In the meanwhile, you can let them know that you are resigning...so you can serve the two month notice period also in this way...
I have gone through the article and found interesting information helped me in getting the best answer that I am looking for.