Hey fishes,
My company has made us sign an employment bond for 3 years and exit penalty is 4.5 lakhs. I have completed 2.3 years but I don’t want to continue working in this company anymore. Also I don’t have 4.5 lakhs to pay. So what should I do in this case? If I leave without paying then I won’t get my experience letter.

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Posting as :
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I would not recommend for fake experience letter or leave company before 3 years as they might not give you, your experience letter which is most useful document. You already have served 2.3 so what’s harm completing 3 years.

likesmart

First of all they won’t allow you to leave before your bond period else they would not have asked you to sign bond. If you leave by any other means you will lose your experience letter. The reasons you have mentioned are not that significant that you can’t continue for few more months.
Meanwhile you can start working on your DSA and your skills and can target good product based.

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Why take so much stress, just complete 3 years. Anyway 2.3 years you served there, just wait for some more months. Law is there not to set employment bonds , since it is a private company they can definitely drag things and you may go through unnecessary issues like not getting experience letters etc. I am just suggesting this for your peace of mind and better avoid unnecessary clashes with your employer. Utilise this time for upskilling.

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According to the law the company cannot bind you. If you wish to leave you may do so but if you've undergone some training then you might have to pay the company the cost of your training

likehelpful

I have heard fake experience letter is easy to get these days 😃 you also have 2 k, assuming you haven't sold one already to buy new iphone 😁

funny

Try to complete 3 years or ask hr how much you have to pay if u leave today

helpful

You are only liable to pay a justified amount not this huge amount as per law and since you have already spent this much time here, you might me free from paying anything. Maximum around 20k you have to pay.

helpful

Just complete 3 years, you have almost completed. Paying 4.5 lakh is useless now. If hr negotiating on the pay and your upcoming company has better offer then go for it

helpful

Is it mu sigma? It also had 3 years bond

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No, not mu sigma

Some companies have a depreciating approach on bonds. My friend joined a company for 2 year bond(1Lakh) and broke the bond after 1.5 years. He only had to pay 25% of the money as he has already worked there for 75% of the duration.
Do check if your company also has a similar option.

NB : Do not check directly 😁

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If you have completed 2.3 years then wait 9 more months, dont be impatient, dont look outside just finish 3 yrs term

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