LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Indian (Engineer)     03 February 2012

Bank guarantee issue

Hello,

I am working on a two year bank guarantee of which eight months are over. I want to leave the company for better exposure and package. In the bank guarantee, my bank has mentioned the cause for invoking the guarantee if the employee leaves the company. In my appointment letter, it is mentioned that any misbehaviour or conduct against the agreement provisions will also be consideredas employees intention to leave. So even if they have to fire me for these reasons, this will be considered that I have left the job on my own.

Under the corcumstances, if 1) I claim that I am asked to leave and remain absent or if 2) if I break the rules repeatedly and force the employer to sack me, will they be able to claim the bank guarantee money?

Please advise on the above.



Learning

 2 Replies

Kumar Doab (FIN)     03 February 2012

It shall be appropriate to visit a competent and experienced service lawyer and show the agreement in person.

Have you received any appointment letter? If you have not received any appointment letter but have been drawing salary, the employer can allege that you had accepted appointment without any order.

Has the company circulated any employee rule book, standing orders? You can obtain the from HR page of the company intranet or concerned HR personnel. Standing orders are displayed at the gate.

You may show all documents to your lawyer and proceed as per the expert advice and strategy drawn by your lawyer. You may be in a position to wriggle out of the situation but it is felt that you are with a smart and shroud employer there may be legal traps and thus protracted litigation, if you move on your own. If you end up loosing money pledged by you what is your gain. You shall end up paying salary to employer and serving him.

It is always better to consult elders in the family, competent and experienced well wishers, lawyer/law firm before signing such agreements.  It is recommendable to be employed with employers who want such iron fist control on employees.

 

Kumar Doab (FIN)     03 February 2012

Please read as

"It is not recommendable to be employed with employers who want such iron fist control on employees."

 

Valuable advice of learned experts and members is sought.


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register