Hi,
I am working with an IT company. I have signed a bond of 2 years. Due to some personal unavoidable circumstances I have to resign before the completion of bond period. I have placed my resignation letter and I have completed more than a year in the company.
I just want to know what will be the process of Full and Final settlement, do I have to pay the complete bond amount or amount for the remaining months.
Are there any rules for final settlement of amount in case if the employee has to leave early before bond completion.
Please help me out.
From India, Mumbai
I am working with an IT company. I have signed a bond of 2 years. Due to some personal unavoidable circumstances I have to resign before the completion of bond period. I have placed my resignation letter and I have completed more than a year in the company.
I just want to know what will be the process of Full and Final settlement, do I have to pay the complete bond amount or amount for the remaining months.
Are there any rules for final settlement of amount in case if the employee has to leave early before bond completion.
Please help me out.
From India, Mumbai
if the company has not spent any amount on your training then you are not liable to pay any amount.
however if you have got any training at the expense of the company then the company can ask you to reimburse the amount so spent on your training.
Bond are not legally binding.
From India, Mumbai
however if you have got any training at the expense of the company then the company can ask you to reimburse the amount so spent on your training.
Bond are not legally binding.
From India, Mumbai
Dear pats,
Nice name yaar...
No on to the point. You need to abide with the specifications meant in the bond. If they are asking for 2 months notice period, then you have to give it. If not there is always a way to buy the notice period if the amount is fair enough.
Do specify that were you been given any training for which your company have sponsored? You have to be little more concise on to the post..
From India, Bangalore
476Nice name yaar...
No on to the point. You need to abide with the specifications meant in the bond. If they are asking for 2 months notice period, then you have to give it. If not there is always a way to buy the notice period if the amount is fair enough.
Do specify that were you been given any training for which your company have sponsored? You have to be little more concise on to the post..
From India, Bangalore
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Company Letter for Completion 01 Month Notice.docx