Employement Bond
RICHA
(Querist) 21 July 2011
This query is : Resolved
Hi
I m working with a KPO company.I have entered into a bond agreement with company for 2 years of 2 lacs.It is not on
stamp paper.There is no bank gurantee.Its on general company letter head.The bond mentions amount to be paid to
company as liquidated damages.Bond conatains the clause that it is compensation not penalty(Company is charging this
because they have spent on training etc).I haven't attended in any training till now and haven't engaged on any live
project.I have been there for 1 month nine days(since 6 th June 2011) and taken the salary for the first month..Due to
medical reasons i can't proceed furthur with my job as i need rest.Plus i m not comfortable with the job.I dont want an
experience or reliving certificate.Would this bond create a problem if i want to leave this job.
Please reply as soon as possible
Would be heartly grateful..
Anonymous
mahendrakumar
(Expert) 22 July 2011
write to the HR,with supporting medical documents for resigning.
however,as per the agreements/bonds,they can sue you,if you leave without their consent.
RAJU O.F.,
(Expert) 22 July 2011
Since you have agreed with the terms and conditions of employment and also executed bond for 2 years and Rs.2 lakhs, you are liable to remain in the company for 2 years or to pay them Rs.2 lakhs. Unless you obtain written permission from the company for relieving you, forgoing the bond clauses, you may land up in trouble, if you immediately quit the job.
M V Gupta
(Expert) 23 July 2011
The bond is stated to have not been stamped. You have not undergone any training nor the company has incurred any kind of expenditure. the letter in question is not enforceable. The courts would require proof of actual loss by the employer if the employer files suit for enforcement of the letter of undertaking. Hence u may resign from the service for medical or other grounds. In case of any suit u can successfully fight it.
RICHA
(Querist) 24 July 2011
thanx a lot to all of you for answering my query and helping me out. M really grateful.
Special thanks to Mr. M.V.Gupta...ur reply has reduced my worries...thanks again!!!
