Hello, I have a simple question. I joined my current organisation (second job) in 2012 as Engineer (my qualification in 2012 Bachelors in Engineering). I decided to go for higher studies in 2014 and got company sponsorship (approimatley 40% of total expenses covered with this sponsorship). So the agreement made was that I shall receive a particular sum on monthly basis during my studies and on my return I shall have to serve the organisation for atleast 3 years. The agreement conditions are as follows
1. Serve the organisation for minimum 3 years
2. In case I leave the organisation in this duration, I am liable to pay INR 11 lacs ( approximately 80% of this amount was paid during study period). THe amount is fixed and does not reduce with time. If I leave one day before the 3rd year, I shall still be liable for 11 lacs.
3. I cannot join anyother organisation working in the simillar sector.
4. The company reserves the right to terminate my employement if it required. (Misconduct of employee etc.)
5. Notice period of 3 months in case I resign.
Its been 4 months that I am back after my studies and I wish to leave the organisation due to personal reasons. My question is can I resign from the organisation and pay the amount in installements, like monthly as it was paid to me (My intention is to pay the amount but I donot have enough resources to pay entire sum in one go).
Please advise on how to resign gracefully without any harassement from the Employer. I would like to add one point. I have been asked to leave the organisation once but things were sorted out after some discussions.
Thanks