Is bond price payable?
Umesh
(Querist) 09 June 2012
This query is : Resolved
I have joined a pvt bank and they got an bond signed by me that I shall serve the bank for a minimum of 3yrs.
I was posted at kanpur branch of the bank and I belong to delhi. I went there for hardly 3 days but, suddenly my mother had some health issues. I requested them to transfer me to delhi but, they simply denied. Now I have to look after my mother and want to resign. But, the bank is demanding bond price of 35000+ 3 months salary i.e., a total of 80000rs. I cannot pay this amount as I haven't drawn any salary from bank.
I also have not been imparted any training as well. And all the expenses have been borne by me since the joining (including travelling, bond paper price as well and many other petty expenses).
Now, please help me that can the bank claim the bond price from me?
My branch manager told me that for 3-4 days bond price won't be claimed and now he is contradicting his statement.
They also have taken my original documents.
Please help as soon as possible.
ajay sethi
(Expert) 09 June 2012
you have just started your career . you are fortunate that you got a good job with pvt bank . if yor mother has health issues bring her to kanpur and get her treated in kanpur . it is a city with good medical faciltes .
if you have executed bond bank will try to recover from you bond amount plus notice period salary mentioned in letter of appointment . if your mother is serious produce doctor report . company may not then force you to pay bond amount on humanitarian grounds
K.K.Ganguly
(Expert) 11 June 2012
Yes, the Bank can claim the amount for which you have signed the Bond. It is not correct that the Bank has not incurred any expenditure in your recruitment. The entire process of recruitment involving manpower of the Bank which is called administrative cost invites expenditure that is why the system of taking Bond from the selected candidates are followed.
Write a polite letter to the Bank authority enclosing your mother's medical certificate. It might help.
RAJU O.F.,
(Expert) 11 June 2012
Bank had selected you after a due process involving huge expenses. That is why they insist you bond and minimum period of service. Since you left, one another person lost his opportunity because of your joining. Bank is justified in taking measures for recovering the dues from you according the to the bond executed by you. Please settle the matter amicably.
