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sharada (NA)     11 October 2011

Need information

Hi,

  My name is Sharada working in a software company in Bangalore. And i have a bond for two years and because of some reason am planning to break the bond. So is there any problem in future. 

Waiting for your reply..

 

Thanks & Regards

 Sharada



Learning

 9 Replies

Raj Kumar Makkad (Adv P & H High Court Chandigarh)     11 October 2011

You are bound to deposit bond money with your employer in case you violate duly accepted bond otherwise company can file civil suit for recovery against you and shall even no issue you NOC/Expereince Certificate.
 

V. VASUDEVAN (LEGAL COUNSEL)     11 October 2011

My views are that the company may decline to issue NOC. But it cannot decline to issue a service certificate (experience certificate) since under the S&E Act, a commercial establishment is bound to issue a service certificate to its employees, on resignation.

vasudevan

PURSHOTTAM KHANCHANDANI (ADVOCATE HIGH COURT MUMBAI - 880 660 1717)     11 October 2011

BREACH OF CONTRACT / BOND CONDITIONS WILL ATTRACT PROBLEMS  IN FUTURE.

Vijayarajan (Executive Director)     13 October 2011

An employer cannot forcibly retain an employee on the ground of an agreement signed at the time of appointment.The agreement will have no validity if the terms are against ID Act or SO Act. Otherwise the company can get an agreement for life time.

K C S Kutty, Pune (Faculty )     16 October 2011

Read every clause of the Bond. Since you have accepted the offer and joined by "accepting all terms and conditions of the offer" you are bound to adhere to the terms and conditions.

Vijayarajan (Executive Director)     16 October 2011

Kindly advice  whether one can enter into an agreement which are against the provisions of the existing  Laws.

Kumar Doab (FIN)     16 October 2011

Learned experts/members have given valuable advice. Kindly follow it.

It shall be appropriate to get the appointment letter, bond, employee rule book, standing orders examined by your service lawyer. If you wish you can post in the forum. You may remove the names etc. It is not clear what are the grounds, needs, and essential components of the bond, and your reason for breaking the bond.

Kindly ensure that:

-Notice of resignation  addressed to your appointing authority, with effective date of resignation clearly mentioned in it, is submitted by you in writing by letter, under acknowledgment, and you may request the company to make arrangements for smooth exit formalities. You may ask to whom charge should be handed over, company property should be submitted, and the designated employee should be advised, with a copy to you, to handover the acknowledgment to you on the spot. You should mention that by the effective date of your resignation your FNF statement, settlement of a/c and disbursement, work experience certificate/service certificate,form16,NOC/NDC,relieving letter, PF accumulation reports, PF withdrawal/transfer forms etc.. Should be processed and supplied to you.

-You may submit the itemized list obtain the comments that all company property has been handed over and nothing is pending at your end, and ask to affix original seal and signature.

-You may mention that you shall cooperate to train the designated/replacement employee upto and within the effective date of your resignation. You may complete all tasks and assignments on hand and obtain comments from the designated employee to whom the charge is handed over that no task assignment is pending at your end. If such comments are not given you may submit a written communication, under acknowledgment, from your end to this effect.

-You may supply a reminder well in time to the good offices of your appointing authority, MD, Head-HR, Company Secretary if the items/details/communications requested by you are not supplied to you, and mention that tasks/assignments have been completed by you.

-You may submit a reminder 3-4 days before the effective date of resignation, that you shall be resigning on dated..........

-On effective date of your resignation you should submit your formal resignation in writing by letter, under acknowledgment.

You should leave any room for the company to charge you on any count.

Company may sit on relieving letter but can not block others. Company can issue you a communication by email or letter or a notice or a legal notice and raise claim for bond amount. Company shall have to prove the validity of the claim raised by them citing bond, signed by you. You can contest the bond, if you are sure that the bond and conditions are to extract undue advantage from the employee.

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Vijayarajan (Executive Director)     16 October 2011

Mr.Kumar Doab, a nice contribution.

Kumar Doab (FIN)     16 October 2011

Heartfelt thanks are submitted to learned experts/members Mr. Makkad, Mr. Vasudevan, Mr. Vijayarajan, Mr. Khanchandani, Mr. Kutty who have helped the querist with valuable advice and have enriched the forum.

Although there may be many forums but it shall be difficult to find the one like LCI which has become an institution by the selfless approach, for the noble cause to help the distressed , with its able, competent, learned experts and members.  

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