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Agreement - I have signed an agreement bond for 2 years
11 months ago
I have signed an agreement bond for 2 years out of no choice for getting the job. After 1.3 years, a new manager has been appointed following the resignation of my old manager, but nowadays things are not going right in my company and there are clashes due to my new manager, so I have decided to resign my job. But my company is demanding Rs. 1 lakh in compensation for leaving before the bond period. Should I pay them to get relived?
A.Dear Client,
A Bond is executed by an employee assuring his employer for uninterrupted service for a certain period. In case of earlier termination of said Bond by the employee, Employer can claim compensation for the damages or injury caused for premature termination of Bond proportionate to his damages caused for the same on a pro-rata basis but can not claim entire Value or more than value of a bond because the employee has rendered service for a considerable period for the growth of the Company. In case the Company demands an exorbitant or arbitrary compensation for relieving you from the Company, you may represent the matter suitably explaining the reason behind your grievance to the Labour Commissioner concerned for redressal of your grievance/complaint against the employer who denies the issue of the relieving letter to an ex-employee of the Company demanding an exorbitant amount of compensation against the premature termination of Bond. In case you need any assistance in this regard, you may contact our legal team for the purpose with relevant papers.
A Bond is executed by an employee assuring his employer for uninterrupted service for a certain period. In case of earlier termination of said Bond by the employee, Employer can claim compensation for the damages or injury caused for premature termination of Bond proportionate to his damages caused for the same on a pro-rata basis but can not claim entire Value or more than value of a bond because the employee has rendered service for a considerable period for the growth of the Company. In case the Company demands an exorbitant or arbitrary compensation for relieving you from the Company, you may represent the matter suitably explaining the reason behind your grievance to the Labour Commissioner concerned for redressal of your grievance/complaint against the employer who denies the issue of the relieving letter to an ex-employee of the Company demanding an exorbitant amount of compensation against the premature termination of Bond. In case you need any assistance in this regard, you may contact our legal team for the purpose with relevant papers.
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Tilak kumar
Replied 10 months ago
Thank you for your suggestion.
Could you help please me out with relevant papers.
A.Dear client,
Read the terms of your agreement bond to see if there are any clauses that mention what action can be taken if you want to opt out of it early. Based on this, you can make your choice on whether or not to pay the compensation
Read the terms of your agreement bond to see if there are any clauses that mention what action can be taken if you want to opt out of it early. Based on this, you can make your choice on whether or not to pay the compensation
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