resignation from bank

Querist : Anonymous (Querist) 16 June 2011 This query is : Resolved
can anyone guide me under which rule(Act and clause) the employee has to surrender 1 month's salary in lieu of 1 month's notice period while resigning from clerical post of a nationalised bank?

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PALNITKAR V.V. (Expert) 17 June 2011
See the service condition rules of the concerned bank. Normally, the condition is also mentioned in the appointment letter.

prabhakar singh (Expert) 17 June 2011
Mr.Palnitkar v v is right.Each bank has its own service rules,and condition mentioned by you is always found in appointment letter.

Kiran Kumar (Expert) 17 June 2011
while you join the services of a bank, you are supposed to sign an agreement and this agreement contains such a clause.

Hon'ble SC has this clause to be valid and not violative of Constitutional provisions.

malipeddi jaggarao (Expert) 17 June 2011
Each Bank has its own Service Regulations of Officers in which they spell out the procedure. It is valid and has to be followed by both the Bank and the Officer.

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