Expert advise sought on Bond Money taken from IT co.employee
Satyendra Varma
(Querist) 23 August 2009
This query is : Resolved
Erstwhile Satyam has been asking its new joinees to sumit a Bank Guarantee of Rs.2Lac only then you are applicable to join Satyam.The BG remains in force for 2 years, in case you quit before 2 years for any reasons, satyam encashes the BG.In case u hv taken loan on arrangement from SBI , the bank automatically gives the amt.to Satyam on their claiming it and then hounds the employee for paying the money with all interest. Many employees have suffered heavily on this.I don't care for those who left Satyam for greener pastures in the same industry, but those who were from non - IT background and were attracted by the lusture of IT, but somehow could not adjust in the new environment after joining, and thought of taking back step and going back to their conventional fields are the worst suffereres . Even if the IT co. in which they worked has not invested in their training etc.they still encash the BG of the employee . The copy of BG is never handed over to the employee.These poor guys are being forced to shell out the bond money (BG) for their act of detaching from the firm in which they could not contribute and were a potential non-contributors , realising only after joining it. Its a trauma for them for first to lose a job in an IT Sector which they fancied their best choice, and then also pay for bond money. I call for genuine opinion and advise of the experts of this article for such cases, whether the bond money should be waived off for such unfortunate cases or not by the co.This as per me is torturous and exploitation of innocent victims.I too am one of those victims.
Gulshan Tanwar
(Expert) 14 January 2011
No one answered the query, pity!!! I am not having time these days will be back to LCI after 18th and then only can answer the same.
