How can I break a two way service bond with an IT company?
I signed a two way service bond with an IT company. Now, due to some unavoidable reasons, I want to break this bond after one year. Please help me out of this service bond safely-
Following are few terms & conditions that are mentioned in the service bond-
- Duration of bond is 2 years. Notice period after two years is 90 days.
- Company can terminate me any time with 90 days salary/90 days period.
- In case you resign from the services of the company without completing the bond period. you will be liable to pay the amount as mentioned in the indemnity bond, towards part of the expenses incurred by the company on yourself and damages claimed by the company for bond violation.
- you will be relieved subject to the completion of the project/assignment in hand. Your account will only be settled after the completion of the project/assignment and your not coming to work or not taking efficient and suitable steps to complete the project will be treated as being willfully absent and for that you shall be liable to pay an additional sum of INR 5000/- per day as damages till your resignation is accepted and your accounts are settled.
- you will not join any competitor or start your own business within 1 year of your leaving the services of the company unless allowed by the company in writing.
- If any provision of this agreement is held invalid, such invalidity shall not affect other provisions or applications of this agreement which can be given effect without the invalid provision or application, and to this end, the provisions of this agreement are declared to be severable.
Following are few reasons that's why I want to break the bond-
- No appreciation or motivation is given to the employee for good work.
- Project Manager, Group Head and Management have mutual understanding and they just blame the Project Coordinator for all the mistakes/bugs/wrong thing happen in the assigned project and degrade the performance. No body listen any excuses, It has been happened multiple times since last one year and I am fed-up with all this nonsense.
- They don't give credit of good work or client's positive feedback to me. I tried my level best to cope up with the GH, PM and Management as well but now it seems like hitting your head on the stone.
- They try to push me down every time because I am much more qualified compare to my GH and PM also I have onsite experience in London, UK as well but they are working since a long time in the current organization, it is their first company(PM 10 years, and GH 6 years) and hence they know every pro and cons and how to deal with them.
- PM is from Haryana and a mentally sick man completely as even after 8+ years of his marriage he has no child. He has told me about this ones also he told me that he is spending too much money for medical treatment of his wife.
- GH is from Bihar and he has neither good technical skills nor good communication skill. He is like a dumb person who don't take stand for anything a blind follower of the PM
- Both PM and GH use me for their professional benefits and abuse me in my back and front as well. They never accept their mistakes and blame me for even those mistakes that were done by them/tem before even I joined the company.
- Just for one example, I am PC(Project Coordinator) of a overseas project where client has given around 1 crore ROI to the company since last one year but PM told in public that I am doing nothing and company cannot ever bear my salary. He was trying to show that I am getting too much salary which is completely wrong. I am underpaid and my friends with similar experience are getting much more salary compare to me.
- I understand he is doing all this to push me down so that I could not demand for salary hike after completion of my one year.
- I have already many offers in hand with 7-8 lakhs/annum and my current ctc is only 5 lakh/annum so I want to just come out from bad office environment where management is also fully supporting the PM and GH.
- Also, I am a family person and my fixed annual expenses are 7.25 lakhs/annum, I can proof this in court as well by showing the respective documents like Car Loan EMI, Education Loan EMI, House Rent, Child Education, Medical and other expenses.
- I am also suffering from a skin related chronic disease (skin psoriasis) and treatment is under process.
- I am immensely stressed, frustrated and irritated as well and sometimes feels like helpless or hopeless from my measurable life and think about some illegal and wrong ways to get rid off from all this mess by committing suicide. But then I think about my responsibilities like my daughter, my wife and my family as well.
Please suggest me some failsafe manner through which I could get rid off from the service bond.
Look forward to hear from you guys.