anshu 08 March 2016

Service bond liability

Sir, I was working with central government PSU.I resigned the company in 2012 after serving 3 months notice.During joining I had signed a bond of 2.5 lakh for 4 years to pay in case of resignation.They havent contacted me for 3.5 years.In July 2015 they demanded bond amount with 18% interset,which is very difficult for me to pay.I'm reay to pay bond amount of 2.5 lakh a per agreement.No training program was conducted during my stay in the PSU. Currently I'm working with another PSU.Is there any threat to my present job because of non payment of bond in previou company.what shoul I do?please help.

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2 Replies

Kumar Doab (FIN) 08 March 2016

Have you exchanged written communications when CPSU contacted you after 3.5 years?

Do you have copy of the Bond?

You may show all docs on record to an able counsel specializing in labor-service matters and check with your lawyer on limitation of the claim also.

Harish Malik (HR/ER Facilitator) 10 March 2016

Dear Anshu,

Since you have executed an Service Agreement with yiour earlier Organisation, you are liable to comply with the requirements of the Agreement. The terms of the Agreement need to be analysed in totality & than matter may be further examined.

However in my opinion & based on the facts what you have mentioned, you have to contest the case as they had not arranged any Training Program for you, the liability towards that may not be sustainable. In no. of such cases different Hon'ble Courts have given diversified judgemets & even in some cases The Courts have decided the matter otherwise also.

As regard the non compliance of Agreement provisions it may affect you in case your earlier Organisation take the issue with your present organisation since both are Public sector units.