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brind (rm)     30 October 2014

Relieving letter withheld – conformation bonus

 

Dear Sir

Our bank recruited 10 management trainees from different B-Schools during Nov-Dec, 2012. During campus placement they informed us that we will be entitled for a conformation bonus of Rs.1.5lakhs on successful completion of 12months in the organization. But we did not receive any offer letter at time of campus selection except a mail conformation. We joined the bank in June2013 and on the joining date we received our offer letter. To our surprise the letter says we have to pay back the conformation bonus of 1.5lakhs along with an interest of 13% p.a if we leave the organization within 12 months from the date of receiving the bonus. This was not communicated to anyone of us at the time of recruitment. At that point of time we were left with no choice but to sign the offer letter as we all passed out of our respective b-schools.  

As promised by the company they paid us the said conformation bonus in July, 2014. Most of us (6) resigned from the company because of various reasons. Now the company has withheld our last month salary, F&A settlement and our relieving letters. They are asking us to  pay 1.5lakhs with interest @13% p.a .

Is there a way to proceed legally against our employer… all 6 of us are ready to approach court and even the reaming 4 who are still working with the bank are willing to join us. During campus recruitment the company never disclosed about this clause. During pre placement talk, when asked about any clauses they said we have no such bonds,.. 

 

Regards



Learning

 4 Replies

Sudhir Kumar, Advocate (Advocate)     31 October 2014

is it Govt bank?       

brind (rm)     31 October 2014

No. Its a private sector bank.

brind (rm)     02 November 2014

Sir, please help...any suggestions please. . thanks

Kumar Doab (FIN)     02 November 2014

Your P  regarding this issue was replied.

 

In the said email did the company state the bonus even if by adding T&C apply.

As already suggested otherwise all afaffecteeaffected employees may join hand and stand as a witness to each other.

 

The c

companies do allure in such Manner.

Employees should consult unions, lawyer before negotiating and accepting any offer/document.


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