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Madan (Engineer)     03 June 2011

Notice period will be covered in Bond period?

Dear sir/madam,

I am working in a leading MNC. I have undergone abroad training in last augest 2010. I had to give 1 year bond.My bond ends with end of August 2011.In that it is mentioned that employee will continue in the employment for a minimum period of 1year upon completion of training. Bond amount is 1 lakhs.
I got a good offer and i would like to move on.in my present company they asked 3 months notice periods as per my appoinment/conformation letter.
If i resign from the current organisation with 3 months notice period june 1st week,,bond period and notice period will be finishing at the same time,so that i can move out completely soon after bond period.

please suggest me it will be possible or not? In bond it's not mentioned 1 year bond. and 3 months notice period as per appointment/conformation letter.Will it go in parallell?
 
They have not taken any of the bonds in bond papper.they have taken my sign in bond and appointment letter(earlier)in company letter head.
 
Here i am attaching notice period mentioned in conformation letter and bond also.
Kindly suggest me..
 
with regards
Madann
 
 


Learning

 5 Replies

prabhakar singh (advocate)     03 June 2011

Your Q is:"If i resign from the current organisation with 3 months notice period june 1st week,,bond period and notice period will be finishing at the same time,so that i can move out completely soon after bond period."

please suggest me it will be possible or not? In bond it's not mentioned 1 year bond. and 3 months notice period as per appointment/conformation letter.Will it go in parallell?

Ans. yeah!possible.care about the date of completion of your training from which the counting of one year begins.if its' 1 year finishes on 31st August,then bettter send notice in may end itself so that 3 months get completed counting ,june,july,august.1st sept. your freedom date.

As regards to bond being on a letter head and no stamp duty paid there on,(mind ,stampduty could be paid even by attachment but on same date)the bond,if sought to be enforced in court of law,the court can impound the bond and ask to pay duty as well as ten times penality thereon.

Madan (Engineer)     03 June 2011

Thank you very much sir. So there won't be any legal issue in this?.company should settle the things normally and issue the experiance certificate,releiving letter etc to me..incase of any such compeltion of paying bond amount or notice period amount whom should i contact ?

kindly reply prabhakar sir.

Madan (Engineer)     03 June 2011

Please tell me incase the employer compell me to pay bond amount or deneying to relieve ,how can it be handled? Kindly advise...

prabhakar singh (advocate)     03 June 2011

MY email address is psinghadv@gmail.com and mobile no. is+919965131758,landline05462228933,but iam in azamgarh(U.P.)pin 276001so i shall not be available for personal service.

prabhakar singh (advocate)     03 June 2011

sorry mobile no is +919956131758

not+91 99 651 31758 but

       +91 99561 31758


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