i am under training period at a PSU and have executed a bond amounting rs.3 lakhs
I have also been recently selected in a higher paying PSU and want to join the same.
there is no bond in this 2nd PSU. I have read somewhere that govt Of India has issued the directions to PSUs regarding bond transfer such that if a person shifts from one psu to another psu his/her bond liabilities be transferred to the 2nd company ..However my present psu says that recently its board members have changed the rules and they won't allow any bond transfer and i'll have to pay the above-mentioned amount if i want to join the 2nd PSU...
Kindly tell me if some rules have been changed by the department of public enterprises or still can i get my bond transferred by communicating through proper channels.
Answered on: 5/11/13, 3:52 am by Fca Prashant Chavan
Dear Sir / Madam,
Asking an employee to execute a service bond is against the principle of natural justice since it is equivalent to bonded labour, which is draconian and against the law. You should request your present PSU for waiver of the service bond and to release you.
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