Legal Question in Banking Law in India

Hi

I am working as probationary officer in public sector bank ie UNITED COMMERCIAL BANK OF INDIA.My query is regarding resignation from the job and possibility of forfeiting the bond amount .According to the bank recruitment advertisement , the employed PO had to forfeit the bond amount of 2 lakhs if he resigns before two years.In my case I joined the bank nearly 26 months back ( ie more than 2 years). However, I had to take leave (of nearly 4 months in total ) due to health problems. Now the situation is that although I have completed 2 years in Bank but due to availed leave, 2 years of working months is not yet complete . I am not certain that if I resign now , do I have to pay the bond amount .

(UCO BANK RECRUITMENT NOTICE HAD NOT MENTIONED CLEARLY THAT BOND AMOUNT NEEDS TO BE PAID ON WHICH OF THE FOLLOWING BELOW MENTIONED CONDITIONS:

1. An employee leaves before probation period completion.In that case what is the probation period completion criteria.Can it be extended on the grounds that the employer has taken considerable amount of leave ie 4 months during that period.

2.An employer service joining date has already exceeded two years but in terms of months served, he has not yet served 2 full years.

3.Is the bond related to the period of

a)Completion of probation, or

b)Completion of two years after joining

c) Service of full 24 months in total.

Waiting eagerly for kind reply

Thankyou


Asked on 10/23/13, 8:57 am

2 Answers from Attorneys
Fca Prashant Chavan Expert Edge LLP

23.10.2013

Dear Sir / Madam,

Although you have already completed the two years service from the date of your joining the bank, it is safe and better that you further complete the period of four months leave availed by you with the bank, before you resign from service.

Regards,

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Answered on 10/23/13, 9:24 am
Rajiv Chandhok Ph: +919810050896 https://www.linkedin.com/in/rajiv-chandok-0827b733/

Please refer to the recruitment rules of the bank or provide us a copy of the rules and your joining letter. You may drop in a detailed query at [email protected]

To know us better, please click on the links below:

http://www.linkedin.com/pub/rajiv-chandhok/33/7b7/82

http://www.lawguru.com/answers/atty_profile/view_attorney_profile/username#more_info

JSR/241013

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Answered on 10/24/13, 3:48 am


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