Legal Question in Business Law in India

Hi, I am working in an I.T company from past one year, while joining on this company they asked me to sign a bond for 3 years and If I broken the bond I have to pay 2 Lakhs to that company and also they got blank cheque signed from me while joining itself.

When am joining to that company they offered me 2.2 Lakhs and they said after one year your salary will be incremented as 3.2 Lakhs. I trusted their words and signed the bond and gave signed blank cheque. But now they are not willing to pay me 3.2 Lakhs, They offered me only 2.8 Lakhs after completion of 1 year.

I dont like to work on this company, they are not ready to pay the salary based on the performance.

Is there any possibilities or any other smart ways to break the bond without paying 2 Lakhs?

Am worrying about my blank cheque too. I am critical situation kindly help me to overcome this problem.


Asked on 4/26/15, 10:56 pm

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

27.04.2015

Dear Sir / Madam,

You have completed a year's service with the IT Company at the end of which you have been offered Rs. 40,000/- short salary in the coming year than what had been committed to you by the Company at the time of joining service. "A bird in hand is worth two in the bush." Firstly, send a polite mail to your Reporting Head copied to HR mentioning your contribution and worth to the Company during the past one year in money terms (basis : existing project billings, new project handled, etc) justifying that you deserve the increment to Rs. 3.20 lakhs for the second year, and seeking reason for the Company offering you an increment in salary lesser than that committed. Ask both whether the shortfall was in any way due to your lack of performance on the job. See what they have to say. Thereafter, tell them to set your performance target in money terms for the second year, and get their commitment that they will not only pay you the incremental shortfall of Rs. 40,000/- at the end of the second year on achieving the second year's target, but also 15%-20% of the excess revenues you generate for the Company than what has been targetted for you to achieve in the second year. Always work a win-win situation on the job with the famous Hindi logic "Tu sher toh mai savaa sher".

Regards,

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Answered on 4/27/15, 12:17 am


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