• Resignation accepted after 10 months

I was working with PSU Bank as Asst. Manager. I resigned from bank for higher studies on May' 14. My resignation was accepted on March 15 after a gap of 10 months. During joining I served Service Bond of three years which ended on December 2014.
Now bank is asking me to deposit bond money along with three month salary for shortfall of notice period. 
Is I am liable to pay bond money and three month salary to the bank.( I had already served 1.5 months notice period from May'14-June'14).
Is resignation are valid if accepted after 10 months.
Asked 3 years ago in Labour from Bhopal, Madhya Pradesh
1. If you are not yet relieved from the services of your bank, you can withdraw your resignation letter and can continue in the present employment. Merely because the bank has conveyed the acceptance of your resignation does not make you to compulsorily get relieved from the bank. If you decide to continue in the services of the bank, this bond period and notice period would not bother you.
2. Since you have already served Service Bond of three years and also 3 months' notice period calculating from the date of submission of resignation letter in May'14, the bank can not ask you to deposit money in lieu of the same.  The same thing can be brought to the notice of the bank authorities.
3. In the resignation letter by the employee, if there were to be a particular relieving date and depending upon the exigencies of the work, to arrange for alternate or substitute employee, the bank may take time to accept the resignation and in this case it has taken 10 months.
Shashidhar S. Sastry
Advocate, Bangalore
1648 Answers
109 Consultations

5.0 on 5.0

1. You shall have to pay the Bond money for leaving the PSU Bank within the stipulated period of 3 years,

2. You are reqyuired to pay salary of 1.5 months only being shortfall of 3 months notice period since you had given only 1.5 month's notice.
Krishna Kishore Ganguly
Advocate, Kolkata
18741 Answers
452 Consultations

5.0 on 5.0

Yes the resignation is valid even if it is accepted after 10 months. Since you filed your resignation before the bond period expired, you are deemed to have violated the agreed terms and conditions. It is advisable that you make a representation to the higher authorities and try to settle the matter in a amicable manner. If the Bank does not respond to the representation in a positive manner you can file a case against the employer for making you wait for 10 months in acceptance of the resignation and for a direction that since for three years you were serving the company and a valid notice was served in time for resignation, it be deemed that no violation of terms has taken place in the facts of your case. 
Shaveta Sanghi
Advocate, Panchkula
885 Answers
64 Consultations

5.0 on 5.0

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