Here i attached the terms in my confirmation regarding notice period and terms in bond .kindly suggest me notice period and bond can be finished at the same time or not.
From India, Bangalore
From India, Bangalore
Hello Venuaparna,
Technically, going by what's mentioned in your Confirmation Letter & Bond, the Notice Period CAN go in-parallel.
But, legally, since nothing specific is mentioned in such a situation that you are into right now, the Company CAN take a stand that they HAVE to be IN SERIAL--meaning 1 yr bond + 3 months notice period.
Suggest check out discretely with HR or someone else within the company if there were precedences earlier. If yes, how were they handled. If no, then all I say is that you have to bell the cat & then watch what happens & respond accordingly.
Also, check out with the new company if they will bear the Notice period Buy-out amount.
Looking back, I think you should have done all this thinking BEFORE you even started the process of looking out for better opportunities.
Suggest wait for others to respond also--there could be better suggestions.
Rgds,
TS
From India, Hyderabad
1637Technically, going by what's mentioned in your Confirmation Letter & Bond, the Notice Period CAN go in-parallel.
But, legally, since nothing specific is mentioned in such a situation that you are into right now, the Company CAN take a stand that they HAVE to be IN SERIAL--meaning 1 yr bond + 3 months notice period.
Suggest check out discretely with HR or someone else within the company if there were precedences earlier. If yes, how were they handled. If no, then all I say is that you have to bell the cat & then watch what happens & respond accordingly.
Also, check out with the new company if they will bear the Notice period Buy-out amount.
Looking back, I think you should have done all this thinking BEFORE you even started the process of looking out for better opportunities.
Suggest wait for others to respond also--there could be better suggestions.
Rgds,
TS
From India, Hyderabad
Hi Venuaparna,
There is no mention of whether the notice period is included or not in the Bond period, usually it is not.
One year bond is exclusive of notice period in most companies, as TS suggested bell the cat and wait for the response and reactions, this is what can be done.
And yes you can ask your new employer to buy out the notice period if it is not inclusive in a year.
Regards,
From India, Delhi
There is no mention of whether the notice period is included or not in the Bond period, usually it is not.
One year bond is exclusive of notice period in most companies, as TS suggested bell the cat and wait for the response and reactions, this is what can be done.
And yes you can ask your new employer to buy out the notice period if it is not inclusive in a year.
Regards,
From India, Delhi
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
Notice period.jpg
Notice Period Extension Letter Format.doc