Hyderabad | 20 May, 2021 (2 months ago)

Employment and Labour Laws

regarding bond in IT company

I joined in an IT company in Jan-19, in offer letter they mentioned as 3yrs bond, if skipped, have to pay 3L + extra amount. My tenure of 3yrs will complete by Jan-2022 Now i got an excellent career best opportunity which cannot be turned down/ignored. In this context, can i break the bond and goahead with new oppurtunity. Will there be any legal complications, in breaking the bond from company side. will they reject to give relieving letter & final settlement amount. Please advice on how to proceed and handle this situation
Answers
20 May, 2021 | 13:05

Hey,

That's not what happens usually. Once you agree to pay the bond amount as damages they would provide you with a relieving letter and also a full and final settlement amount. If they don't, then you can send a legal notice to them and get it done as well. Unless your employment contract says otherwise. It would have been better if you had attached the employment contract along with the query so that answer could have been given after reading the terms and conditions of the contract. But, if you are uncomfortable sharing them on a public platform like this, feel free to mail it to me at advsanjaynarayandas@gmail.com. I would be happy to give it a read and advise accordingly.

For any further queries, feel free to contact me on 7601090381


20 May, 2021 | 10:01

What's up number is 9359867870
Advocate IRFAN SHAIKH


20 May, 2021 | 10:01

Yes
You can call me for advise on mobile no 9359867870
Advocate IRFAN SHAIKH


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