I have a service bond of 3 years of Rs 150000.But I left the company 6 months left in the bond.Shall I have to pay the money?
1 Answer from Attorneys
Dear Sir / Madam,
A performance bond of any form or nature, being against the principles of natural justice, is illegal and a criminal offence. You will have to take a call and decide your line of action where there are three options :
a). Request the Company to grant you a waiver for the remaining 6 months bond period, if you have a gut feeling that the Company will accede to your request or;
b). Pay the Company Rs. 25,000/- (Rupees Twenty Five Thousand Only being Rs. 1,50,000/36 * 6) for the remaining 6 months bond period or;
c). Politely refuse to pay any money, seek proper advice and guidance from us, and logically represent your case to the Company.
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