I m working with a private bank. We have a service agreement of 5 years and if I leave the job I have to pay as company has made us gone through post graduation diploma in banking(9 months course) and has given us the employment in return. Total cost of the course was 3.35 lac+ 2% rate of interest which is being currently deducted from our salary. If we leave we have to pay 3.35+penal interest(minus the amount which has already been deducted from salary). And we can't resign from services unless we pay out this huge amount. Now my father who is a single parent is not keeping well, he lives alone and my presence is v.imp at my hometown. Instead of request and applying for transfer the company is not at all ready to relocate me. My financial condition are not such that I can pay this huge amount. What can I do as I can't rejoin my services in the place i am currently posted nor I can resign as I have to pay this huge amount. I am left clue less...company will soon start sending me legal notice and absconding letter. I am currently left with no option.
Please suggest if I can do something legal about it.