regarding transfer of service bond from psu to psu
jina dey
(Querist) 03 April 2014
This query is : Resolved
Hi..I am currently working as a Marketing Officer in a govt bank from the past 6 months and have signed a bond of 2.5 lacs at the time of joining.But the job profile of Marketing is not suiting me and hence I gave another Bank PO exam and qualified it now.The issue now is how to transfer the bond from current bank to the another bank which I am planning to join.Moreover,the new bank which am planning to join has no service bonds and hence rejecting any transfer of bonds.
The new bank says if I want to join their bank,I have to pay the previous banks bond and then join the new bank.Because they cant take the responsibility of bond since there is no bond in their organization.Since 2.5 lacs is a big amount,its not possible to pay.
I also read many clauses and articles about the transfer of bond
I sincerely request you to tell me the procedure and help me out of this.
Awaits your response,
Jina Dey
Delhi
Guest
(Expert) 03 April 2014
You have not stated, whether the bank you are going to join is also a Government bank or private bank?
jina dey
(Querist) 03 April 2014
both are govt banks...PSUs
Rajendra K Goyal
(Expert) 03 April 2014
It is not possible to transfer the Bond as both Banks are separate. Either pay the Bond or continue.
Guest
(Expert) 03 April 2014
If the other bank does not have the condition of bond, the same cannot be transferred to the new bank. Either you have to fulfil the minimum service condition in the present organisation, or pay the bond amount before relinquishing service of the organisation.
jina dey
(Querist) 04 April 2014
but i have read in the Department of Public Enterprises website about the transfer of bond..Kindly suggest
jina dey
(Querist) 04 April 2014
29. DPE/Guidelines/II(c)/29
Enforcement/transfer of bond in respect of employees of Public Enterprises who leave the services of one Undertaking to join another Undertaking/ Government.
The undersigned is directed to refer to this Department’s OMs No. BPE/GL-017/77/MAN/2(11)/75-BPE(GM-I) dated 13.6.1977 and 23.5.1981 and No. 17/20/84-GM dated 5.2.1985 on the subject mentioned above, which were deleted vide this Department’s O.M. No. 20(5)/95-DPE(GM) dated 10th December, 1997. After deletion of these guidelines, Department of Public Enterprises received references from various quarters for revival of these guidelines to enable them to regularize enforcement/ transfer of bond in the case of public sector employees joining services in Central Govt./State Govt./Autonomous Bodies. The position has been reviewed and after careful consideration, it has been decided to revive this Department’s OMs dated 13.6.1977, 23.5.1981 and 5.2.1985 with the following modifications:
(a) The bond executed by employees of the Public Enterprises, who have received scientific/technical training at the cost of Public Enterprises and have applied through proper channel during the currency of the bond join Central Govt./State Govt. services or take up employment under quasi-government organizations or any other public enterprise either on the basis of competition examinations/tests/interviews organized by those organizations or the Union Public Service Commission should not be enforced subject to the condition that a fresh bond is taken to ensure that the employee serves the new employer for the balance of the original bond period.
(b) The terms of bond whereby an employee of a Central public enterprise receiving scientific and technical training out the expenses of the Govt./Public Sector Enterprises undertakes to repay this specified amount in the event of his failure to serve the enterprise for a stipulated period after completion of his training should not be enforced against an employee who leaves service of public enterprise to secure, with proper permission, employment under the Central Govt., a public enterprise or an autonomous body wholly or substantially owned/financed/controlled by the Central/State Govt. A fresh bond should be taken from the person concerned to ensure that he serves the new employer for the balance of the original period.
(c) To ensure that the requirement of obtaining a fresh bond from a person, where necessary, is fulfilled, the enterprise with whom the employee has executed the original bond may at the time of forwarding his application write to the organization etc. under whom the employee intends to take up another appointment intimating them about the bond obligation of the individual and clarifying that in the case of his selection for the new post, his release will be subject to the condition that the new organization take from him a fresh bond binding him to serve them for the balance of the original bond period; in case he fails to serve the new department/organization etc. or leaves it before completion of the original bond period for a job where exemption from bond obligation is not available, the proportionate bond money should be realised from the individual and refunded to the first organization with whom he originally executed the bond.
2. All the administrative Ministries/Departments are requested to kindly issue necessary instructions accordingly to the public sector enterprises under their administrative control.
(DPE O.M. No. 15(2)/2003-DPE(GM)/GL-57 dated 29th July, 2004)
Guest
(Expert) 04 April 2014
Please don't try to read the provisions of the DOPT/DPE guidelines. You are required to examine your case on the following points, which you have never cleared in your query:
1) Have you signed bond only on account of receiving any scientific/technical training at the cost of bank?
2) Have you applied through proper channel for the post in another bank?
If your answer to these two points is "yes", only then you can think about asking for the facility provided by the Government.
jina dey
(Querist) 04 April 2014
Thank u Dhingra Sir for ur response.
1) I had signed the bond at the time of joining the bank..After 4 months of joining the bank, I went for a training for just 7 days in Bhopal.Thats it..No other training.
2)Yes I have applied through proper channel.
I filled the form of IBPS PO Exam (of the new bank) even before joining the current bank.and once i cleared the written exam,I took a NOC from the current bank to appear for the interview in the new bank.And have given the NOC letter to the IBPS team while appearing for the interview.
Based on my preferences in the form ,I have been alloted this new bank recently.
I called the new bank and they are saying
they cant accept the bond and this is what is bothering me.
Kindly help
Guest
(Expert) 04 April 2014
You need to see th elamguage of bond. I don't think that would have specified any technical training. The bond may be a service bond to put restriction on the employees only to avoid shortage of manpower as well as unnecessary expenditure on recruitment process that may arise due to frequent recruotments.
Better consult some expert personally or through emailby providing copies of your appointment order and the bond for the purpose of proper interpretation and guidance with specific reference to the prescribed conditions in the documents.
Guest
(Expert) 04 April 2014
You need to see th elamguage of bond. I don't think that would have specified any technical training. The bond may be a service bond to put restriction on the employees only to avoid shortage of manpower as well as unnecessary expenditure on recruitment process that may arise due to frequent recruotments.
Better consult some expert personally or through emailby providing copies of your appointment order and the bond for the purpose of proper interpretation and guidance with specific reference to the prescribed conditions in the documents.
jina dey
(Querist) 04 April 2014
thanx a lot Sir..
Guest
(Expert) 05 April 2014
You are welcome.
