Hi, I joined my past company "A" under a bond of 1 year, which at that time I had no problems with. However, due to some health reasons, I had to leave, and I was relieved without any bond-breaking amount and even a shorter notice period. The point to note is that the company was laying off a lot of employees due to some reasons, which helped in my early release, although I was not supposed to be laid off.
Now, there have been some family money problems that have led me to accept the offer from my first-ever company "B" with a good package for immediate joining, which I have accepted. I received my relieving letter from the company "A"; however, my full and final settlement is still pending. Can they hold my full and final settlement based on my knowledge of joining another company? Is there anything I can do?
From India, Baddi
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Now, there have been some family money problems that have led me to accept the offer from my first-ever company "B" with a good package for immediate joining, which I have accepted. I received my relieving letter from the company "A"; however, my full and final settlement is still pending. Can they hold my full and final settlement based on my knowledge of joining another company? Is there anything I can do?
From India, Baddi
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Hi,
Was your departure from Company A due to your resignation, or did they let you go for their own benefit? If you had signed a bond with Company A, you are obligated to adhere to it. If your departure was a result of your resignation, they might have adjusted the settlement to account for breaking the bond. Therefore, I recommend checking with your HR department regarding the Full and Final Settlement (FFS).
From India, Madras
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1015Was your departure from Company A due to your resignation, or did they let you go for their own benefit? If you had signed a bond with Company A, you are obligated to adhere to it. If your departure was a result of your resignation, they might have adjusted the settlement to account for breaking the bond. Therefore, I recommend checking with your HR department regarding the Full and Final Settlement (FFS).
From India, Madras
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Hi, Yes the relieving was based on my resignation, however on relieving they had informed me that the full n final settlement will be made in 45-60 days. Even the mail same had been said.
From India, Baddi
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From India, Baddi
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Hi As they assured to release FFS through emai itself just wait and see. Wherever possible keep your joining with new employer as confidential till you get FFS. Do not expose it for time being.
From India, Madras
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From India, Madras
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Full and Final settlement and waiving off your notice period or early release depend on the Company Policy and the flexibility in the management outlook. In some companies, if the HOD can accept your early release with a waiver, then it can be easy for you.
Please discuss with your HOD and then HR the facts, and whatever the decision, try to accept it as you are heading towards success and achievement. Small losses don't matter; they can be recovered in a month or so.
Sanddep Verma
HR Mentor and Coach
From India, Jaipur
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Please discuss with your HOD and then HR the facts, and whatever the decision, try to accept it as you are heading towards success and achievement. Small losses don't matter; they can be recovered in a month or so.
Sanddep Verma
HR Mentor and Coach
From India, Jaipur
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Full n final settlement.doc