Shubham1401
Forerunner
I am a permanent employee with the firm. The bond money is 1 lac though I believe I have repaid much more than that with the work I have done and projects that I have brought with the POCs for prospective clients.If its a non-permanent time bound contractual job (like a 2 year job contract), neither employee nor employer can change any of the terms during the contract period.
Notice period for a full time job is typically treated as company policy and can get changed from time to time like all other company policies. However, the employer needs to inform it proactively to the employees that a policy change is coming into effect. They cannot change it silently and leave it to the employee to find out later. They have to announce it and in way that evidence of it will be available for them too. If you have objections to the policy, you can raise an objection immediately and resign from the company in which case the policy cannot be applied to you. Continuing your employment after the policy change comes into effect is implicit acceptance of the policy change.
Do note that bond for a full time job is a completely different obligation that has nothing to do with the notice period. So a 2 year bond is just a contract that says that if you decide to leave before 2 years, you have to pay certain amount to cover the costs incurred by the company on you. It does not enforce anything else on you or the employer unless explicitly stated. Such contracts also need to be reasonable. For instance, an employer cannot just make you sign a 10 Lac bond and ask you to pay it without actually having incurred such costs.
I will keep this in mind. So far it has been a secret with only one other person knowing about it.Whatever enquiries you make - be discreet. No employer likes a member of the staff discussing merits/demerits of notice period with other staff members. It is bad for the general company atmosphere. And, yeah, no lawyers!
I have started negotiations with the new company. They have offered to buy out my notice period but the problem is I am very important to my existing company. They already have money but they have a resource crunch (as no one stays in the company due to pathetic mindset of the employers). Though it seems like a great idea to bargain on notice period in lieu of available leaves(I have 11). Will surely try this.1. Check your leave policy. Many companies pay money on accumulated leaves during final settlement. So if you have 10-15 days leaves unused, you can use them to haggle out 10-15 days early exit.
2. Negotiate with your future employer. Try and persuade them.
3. Negotiate with your manager, if he is someone you think is reasonable. I have seen asshole managers who make you complete NP even on bench and others who wont stop you as they are happy for your progess
Unfortunately, it is the 2nd case where they don't give relieving letter if someone tries to go without paying the bond money. People who have left before me have all paid the bond money for the letter.AFAIK, bonded labour is illegal in india. Therefore in the case of an employee hired under a bond, that bond will never be valid in a court of law. Since it almost never comes to that stage in India, there are two ways an employer can practically maintain their 'hold' on an employee.
In the first case, anyone getting into a job should follow the simple rule of never pay money TO an employer. In the second, if the employee absolutely has to leave the employer, then he has to either meet whatever demands and conditions they insist on, or forfeit their relieving documents.
- Take a 'bond' amount upfront. Again, this is illegal, but it's an easy way to get an employee who's desperate for a job.
- Refuse to surrender the relieving/termination letters when the employee decides to quit.
There was one line in the official appraisal letter that 'also see our updated employment policy for this year'. Apart from that they have never said it out loud even. I'm very sure than most of the people won't even be knowing about this.@Shubham1401 Were you informed officially by HR ( Email/hard copy) of the 3 month notice period at appraisal time ?
If you were, you are bound by it. It doesnt matter if you didnt sign and accept. Since you working for them, you are bound by your company's changes of rules irrespective of what you have signed in the past. Your issue is not the bond ( illegal in India ) but the notice period.
You can talk to HR as most companies have the provision to settle this notice period whereby you can pay them your salary for the months you dont want to work for them.
Another possibility is how desperate the next company is to getting you. They can also completely or partially compensate you for the loss you will bear in doing what I stated above, I have seen it in higher management positions. But this depends if your present company wants to to settle with you.
Lastly, if you just decide to walk away from the situation, your company might or might not take legal action. They can also withhold your full and final settlement and not release you officially which will be an issue for next company.
Talk to HR and sort it out.
Also, I will try to talk to the HR about it. There's very less chance of him being reasonable but lets see. The other company also offered to pay the notice period but my current company won't agree to it as they need employees more than money as they have a lots of project but very less experienced employees.
I haven't paid anything. The problem is that if I go without paying they won't give me the relieving letter.He can't walk away, they have 1 lakh of his. And yeah, he probably won't get his relieving letters (again illegal).
My new employer already knows that I have a 3 month notice period. They never conveyed that they need people on very urgent basis until my second round when I was in their office. I will account for my leave quota and will try to convince them that I was confused about 2 vs 3 months of notice period (which I actually was).You were aware of the 3 months notice period, and should have upfront told your prospective employer about this. They would/should have buffered this in their recruitment pipeline, and that is how it usually works. There are only two things you can do:
1. Inform the new company about the 3 months notice period and ask them to extend your joining date.
2. Try to negotiate with your companies line/HR managers and get a 2 month notice period. They can account for your pending leave quota and/or ask you for a 30 working day payout based on your basic salary.
This is what will happen:
(1) will occur if they are all right to wait and understand you were confused about 2 vs. 3 months of notice, and not take it as a dishonest approach.
(2) may occur provided your current company is ready to let you go.
(3) Else they may say, we will not regard leaves / pay out to waive off 30 days - and force you to complete 90 days. They may threaten to hold back your experience letter, or pen in absconding / bad behavior on the experience letter.
See what happens and decide. Do not resign till both parties have told you their final word, and there is synonymous match. You might end up with no job.
Lastly, I would really like to thank all of my TE mates from the bottom of my heart for providing such valuable advice to help me move in the right direction. I will keep you guys posted with the discussions with both the parties as they progress.