Service agreement cum surety bond
shivani pawar
(Querist) 26 March 2013
This query is : Resolved
I have recently resigned from a state govt undertaking company..at the time of joining a service agreement cum surety bond was executed..according to which i have to serve the company for at least five years after completion of training i.e. period of six months also if i fail to do so, i have to pay the bond amount i.e. 1 lac plus the stipend paid by company during training plus three months salary if i do not serve the notice period.Due to some reasons i did not serve the notice period.I received a demand note of Rs 2.3 lac which i am not able to pay. can i ask for any relaxation? can i request to minus the stipend of six months? The training provided by the company was for improving its efficiency and performance. please help me..
Adv k . mahesh
(Expert) 26 March 2013
how many years you have served and also discuss with the head of the department
ajay sethi
(Expert) 26 March 2013
contact a local lawyer . reply to demand notice . you have not mentioned the period you have served the company after completion of training period .
Arjunsingh Saoji
(Expert) 27 March 2013
There are lots of angles to this types of case. Presuming you have not served the agreed bond period and want to leave the job for better prospects, you have to decide on the basis of weighted risk involved in fighting legal battle. If your new employer is not insisting on No Objection Certificate from last employer, then you have lot of scope. Otherwise there are restrictions. Anyway contact local lawyer or give complete details of the case.
Guest
(Expert) 27 March 2013
You may better get the opinion after getting examined the terms & conditions of offer/ appointment letter as well as that of the service bond by some expert. In my views, three different claims, i.e., bond amount, salary in lieu of notice period and also the stipend are not justified.
shivani pawar
(Querist) 27 March 2013
i have served the company for one and half year after completion of training period..
Guest
(Expert) 27 March 2013
Period of service and terms of service are two different things.
shivani pawar
(Querist) 06 February 2014
sir,I am getting notices from company again and again.As i said earlier they have sent me a demand of rs 2.3 lac which includes bond amount rs. 1 lac,demand against stipend paid during training rs 55,800 ,3 months salary i.e. 65,034 rs as i have not served the notice period of three months. sir i have paid rs 1 lac against bond amount and additional 30,000 rs not whole amount as i was seeking for relaxation.the last amount which they are demanding against not serving the notice period is sum of my 3 month's gross salary. i have heard that only 3 month's basic salary should be in demand not gross salary.sir is there any law for the same?
Advocate. Arunagiri
(Expert) 06 February 2014
When the company is paying you money / salary you have left the company and would have joined elsewhere.
Having trained by the X company cost and joining in Y company, you are not doing any justice to the X company.
You are liable to pay the compensation as per your agreement. Company will not show any mercy on you.
