Legal Question in Employment Law in India

I am working in bank of maharashtra mumbai as a probationary officer. My probation period is of 1 year and I joined the bank 2 months back. Now i feel like i dont fit into this job and want to quit, but since i had signed a bond of rs one lac with the bank, which states that if i quit the job before 1 year i had to pay the bank 1 lac rupees. I want to know if i can leave the job (serving 1 month notice) or i have to pay 1 lac.


Asked on 7/13/13, 7:00 am

2 Answers from Attorneys
Fca Prashant Chavan Expert Edge LLP

13.07.2013

Dear Sir / Madam,

Having signed the performance bond, you will have to serve the prescribed one month's notice period commencing from the date of your resignation, or pay up the bond amount of Rs. 1 lakh as committed by you to the bank at the time of your joining service. Quitting the present job without having a better job offer on hand is not recommended.

Regards,

Read more
Answered on 7/13/13, 7:08 am

u have to complete probation period or pay t amount

Read more
Answered on 7/13/13, 10:10 pm


Related Questions & Answers

More Labor and Employment Law questions and answers in India