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CA Pankaj Kumar Patel   10 December 2021

Resign in 7 days i have to pay bond amount ?

I am a CA and selected in one of the Maharatna company and i am from rajasthan, after joining and reporting in 3 days they allot area in very remote location which is far away from my home town i have to take 2 days journey for reaching home and i dont want to continue this Job  , my parents is in old age and i have to reach for look after so how to resign without paying bond amount which is very heavy for me 3.54 lacs , company doesnt spend any penny on me for training purpose,,,,please suggest 



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 4 Replies

Anaita Vas   10 December 2021

There are certain legally binding conditions that must be fulfilled by companies before asking an unemployed person to sign the bond if he/she wants the job.

  1. If the Company is going to depute the selected person abroad for training or sponsor them for specialized training to Institutes incurring expenditure, then they can ask the employee to sign a bond. For giving in-house training/orientation program, they can’t ask employee to sign a bond.
  2. Withholding educational certificates is illegal and yet many companies do so.
  3. The bond must be executed on a non judicial stamp paper of sufficient value so that it can be enforced in Court of Law.
  4. An employee cannot be dismissed during bond period without paying the bond money but this seldom happens. Companies always enforce bonds one sided.
  5. Clauses inserted in the bond must conform to the law of the land. Just because an unemployed person has signed it does not mean it can be enforced.

Appropriate suggestion can only be given after going through the bond you have signed.

 

Regards,

Anaita Vas

P. Venu (Advocate)     11 December 2021

In the given facts, the employer cannot enforce the Bond. However, you are bound by the terms, if any, as to Notice period.

Dr J C Vashista (Advocate)     12 December 2021

Terms and conditions of appointment shall prevail.

Kawmini Liyanage   04 January 2022

Greetings!

It would be better to refer to the bond that you have signed to understand the conditions where the employee (you) can be excused/ resigned from work without having to pay the bond amount. But, before resigning it would be wise to contact the HR Department and explain the situation and make a request for an appointment for a closer work location to home. 

Regards,

Kawmini Liyanage.


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