rohit

student



[ Scorecard : 24]

 hi i am rohit. i have signed a bond for a company which states that i need to pay an amount of 11 lacs if i quit within 3years( 1 yr training+2 yrs service). the amount of 11 lacs is the sum of the salary they pay me and their expenditure in training me. i have to go to china for training.  however they do not mention the salary after training. according to the bond, i need to pay 

100% if i quit within 2 months

95% if i quit within 6 months 

50% if i quit within an year

30% if i quit within 24 months after the commencement of training.

does this mean that i can actually quit after 2 years itself i.e., i needn't pay any amount if  i quit after 2 yrs. also the amount 11 lacs is after conversion from chinese to indian rupee. in chinese currency it is around 108000.

pls answer soon. i tried every where but couldn't find an answer.

KRK RAO

Personnel Manager



[ Scorecard : 66]

Kuljit Pal Singh

Legal Professional



[ Scorecard : 266]

Dear Friend,

The law provides for the recourse of Bond but before enforcing it the aggrieved party i.e. your employer has to show the liquidated damages it suffered because of your resignation, the said damages should not be remote damages.

Regards

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