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Can I break employment bond and not serve Notice period
16-Feb-2023 (In Labour & Service Law)
I work in a small company and signed an Employment bond of 2 years. Some of the points it includes are. 1. They have taken 3 cheques each of 25000 with future dates of 3,9,15 months. 2. If I leave the organisation before 2 years they will encash them and I have to pay 1.5 times the salary provided to me, till the date of leaving. 3. At few places it is written that my Probabation period is 6 months and If I leave before that then my notice period would be of 1 month and otherwise it would be of 2 months. But at some places it is written that my Probabation period is 1 year. I want to leave the organisation and join another one in 2 weeks. I have spent 6 months and 10 days in this company. My cheques which I have given are of SBBJ Bank which is now being merged to SBI.And according to the rules my cheques are now invalid. Please help me what should I do.Can I abscond or should I put a medical issue or write a proper resignation. Thanks
Give resignation on mail and mentioned about cheque no. And amount which you have given.
Mentioned clearly that u don't want to continue and ready to serve 1 month notice and all given cheque will be forfitted after notice.
No one can bound for service as a bonded labour
Mentioned clearly that u don't want to continue and ready to serve 1 month notice and all given cheque will be forfitted after notice.
No one can bound for service as a bonded labour
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Adv. Mahesh Kushwaha
Udaipur | 100+ Answers
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How do I resign if I have a bond?
In the contract you signed when you started your employment, there should be a clause that outlines what to do in this situation. If you wish to leave an organization during the period of the bond you must have written approval from your employer. This can be in the form of a resignation or waiver of the bonds.
Is it illegal to break a bond?
A bond-breaking charge is the company's way of compensating you for all the time and money spent on your employment. A bond is legal tender. If done correctly, breaking a bond after signing for a certain amount of time can be fine. 19-Oct-2022
What happens if bond amount is not paid?
If you break the bond of a company and do not pay the bond amount, it may have financial and legal implications depending on the contract and the bond terms. You could be liable for damages if you break the bond.
Is it possible to negotiate bond amount?
You cannot skip the bond payment. You may be able to negotiate with HR a reduction in the bond amount, but you cannot skip. I would suggest that you submit your resignation 3 months prior to your 1-year anniversary. You can finish your notice period as well as 1 year anniversary in the same time.
Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
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