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Do I have to pay bond amount for resignation
03-Oct-2023 (In Labour & Service Law)
Hello sir, I have recently joined Indian Bank which is public sector bank in the month of August. During my joining I have signed an indemnity bond of RS 100000. Recently got selected in SBI and will resign from Indian Bank. I have asked the hr department about the resignation process, They asked to pay the bond amount plus the training cost around 50000 also salary for 3 months unserved notice period. This all constitutes to rs 280000 . In any case I can challenge this bond .
As per the recent development in law made by the Supreme Court and various High Courts, such bonds are lopsided and are not legal and enforceable under law.
You can send a legal notice to the company for asking for your dues.
If the company takes any legal action against you to ask for the bond amount, you must contest it in the court of law as the enforcement of these employment bonds is not maintainable under law.
You can send a legal notice to the company for asking for your dues.
If the company takes any legal action against you to ask for the bond amount, you must contest it in the court of law as the enforcement of these employment bonds is not maintainable under law.
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Adv. Siddhant Sharma
Delhi | 500+ Answers
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