Please clear me with this Query and help me to come out of this issue.
I am working as an Accountant in a pvt company for the past 9 years.
As i got a new offer with high salary I wish to resign the job and my MD gave little increment to retain me in the same company.
after that i requested to withdraw my EPF amount due to the reason I want to clear my loan with a bank which is putting more and more hidden charges, so my MD told not to close your EPF account as I will lose my Pension / service benefit.
also he offered me a STAFF LOAN of Rs.2 Lakh against adjustment from my monthly salary (based on my gratuity and EPF)
i think twice for this but my MD told will be all right soon. finally i was forced to write a request letter asking for loan along
with the attachment of Aadhar and PAN card copies.
during loan sanction MD asked to sign in a 100rs BLANK STAMP PAPER with 2 Promissory note worth 1 lakh each.
no way except signing with the BLACK STAMP PAPER..
now repaying my loan out of my monthly salary. some of my friends saying that this is not good and making me to fear for this.
I am very much confused because of this and getting depressed due to this.
will my MD write anything XYZ in the stamp paper? is this totally wrong? will he blame me for anything?
as i recently purchased a 2nd hand flat owned in my name and will he occupy that by using this stamp paper?
please learned people help me for this as i am a widower and had a a boy kid and i am a middle class person.
I am worried because of this.
Expecting some lights on the above mentioned query.