Dear Sir, I Have 2 queries listed below related to service agreement bond.
1. I joined One Central Public sector company as Executive Trainee on 01-Sept-2006 with a bond agreement of Rupees One lakh to serve that company for a period of 3 years excluding 1 year Executive Trainee training period. In Nov-2007 I got selected in other central PSU then I resigned my first PSU in Nov- 2007 but when I asked to get the relieving from first PSU then that PSU forced me to deposit Rs. 1,06,453 (More Than one lakh Rupees) against bond agreement…It means that my first PSU has charged me more than one lakh rupees while in bond agreement it is clear that Maximum of one lakh rupees can be recovered in all respects (If a Employee leaves the company before completion of bond period). At that time I deposited the said amount as demanded by PSU to get relieving letter but kindly tell me that how can I take any action against that PSU for charging more amount.
2. Sir, Bond agreement says that, I was bound to serve the that PSU or any Public sector company for the stipulated bond period (Total 04 years including 1 year training period). Sir I served my first PSU for more than 1 year & after that I served the second central PSU for more than 4.5 Years (From 26-Nov-2007 to till date). Hence Total period served by me in PSU’s is more than 06 years which fulfills bond conditions. So please tell me that is there any procedure to claim/return my bond amount from First PSU , which I have already paid to First PSU in Nov – 2007.
