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HK (regulatory )     17 February 2011

EMPLOYMENT BOND_VERY URGENT

PLZ HELP,

I have signed a bond(on company's letter head)  for 2 years, training period mentioned in my appointment letter is 1 year ,followed by probation for 6 months and then confirmation if they feel so...whereas for other employees , training period is 9 months.(reason given is that ma job profile is different from them).if i leave the company before the completion of stipulated period, then i hv to pay rs.25,000.but i am unhappy with the policies of the company.coz i am a post graduate but stipend given to me is based on ma Graduation level.they are not considering my P.G. and hv not yet revised my stipend since past 7 months. they hv sent me for external training for 4 days (it costed them rs.9000), now i dnt wish to continue due to some reason. i want to resign by fulfilling the stated notice period.but i am afraid that they will ask for bond money as well as training expenses. keeping in  mind that my stipend has not been revised yet, cant it be considered as compensation from my side towards company for my training expenses. and what could be done to get releiving letter (they might not give so).  and  i hv heard that bond act got abolished.so is this bond legal.how to get rid of this problem legally.

pls help as soon as possible..

regards,

HK    :/



Learning

 3 Replies

Ruchi Choudhary (Manager-HR)     18 February 2011

Hi HK, Its true that Bonded labour is abolished...but in your case the company has provided you the training and they can file a case against you for the repayment. So, it is advisable to talk to your senior and tell him the complete picture may be he can help you out... regards,

Shambho (Trainee)     19 February 2011

Hello everyone... This is shambho, new to d forum... My fren Deepak has signed a 2 year one sided employment bond wid India's famous construction company L&T for an amount of 2lacs which is on a Non-Judicial paper.. He has completed abt 6-8 months training in d company as a GET.. D company is providing training to him which is for 1year initially after which he will be absorbed in d company.. But he is not satisfied wid d job profile and wanted to go back to continue his higher studies.. So wat are d legal implications to this? He comes from a poor family and cant pay d bond amount specified ie; 2 lacs... Plus the company ppl have taken 2 guarantors statement and signature on d bond documents in which they hav mentioned dat the guarantor's hav to pay d amount in case of breach of d bond.. So plz reply to this one.. He doesnt have any interest to work der and he wants to go for higher studies.. Also; he does'nt want any experience certificate or relieving letter from dem.. He just wants to go and doesn't want to pay d heavy amount.. How to go about d situation?? Can he resign officially or shall he jus leave widout informing dem?? Plz help him ASAP..

Regards,

Shambho

HK (regulatory )     20 February 2011

hey thanks RUCHI,

im ready to pay training expenses to them.Bt isnt it unfair if they are not gving me stipend i deserve.

Ok, leaving this thing apart.If i repay the training expenses.wud it be ok legally? then i dnt hv to pay the bond amount rgt?

 

reply plss....

Regards,

HK


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