bharat (.......................) 14 January 2012

Regarding service bond

Hello friends,
I have some queries and I need your help to clear those. Actually while joining to one MNC company I signed for a service bond of 2 years which includes training of 6 months. If we break the bond means we need to pay 1 lack rupees. This was the condition of the company.
But the problem is, now because of some family issues I need to relocate to my native place. So its not possible for me to continue working in that company. I talked with the HR people in the company, they telling that if I want to break the bond means I need to pay the amount of money specified in the bond. Now it has been 6 months after joining the company. My training period is already over. Can I break the bond now? If I break it means what actions company can take on me?

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1 Replies

Kumar Doab (FIN) 15 January 2012

Company may or may not issue acceptance of resignation, work experience/service certificate, FNF statement, settlement of your a/c etc and company may not issue relieving letter. Company may issue notice/legal notice and may proceed legally for recovery of bond amount.

The reason posted by you "because of some family issues I need to relocate to my native place" may not fetch you relief like waiver of bond amount and hence issuance of all documents etc.

It shall be appropriate before you approach your superiors with a request to relieve you without any penalty, you may approach elders in the family, competent and experienced well wishers, lawyer/law firm and build your case properly. This shall be better as without proper and expert advice you may compound your problem instead of solving it.

In first place if you were not able to bear the conditions of bond you should have consulted before signing the bond and must have looked for another/suitable venture.

You shall need to establish that company has not incurred Rs 1 Lack on your training.