How much we have to pay if we break bond in Infosys?
There is no fixed amount to it, It is calculated on the basis of pro rata basis for the number of days left in completion of your bond . Per day amount is your monthly salary divided by number of days in month. So if you leave 6months before then it will 180* the above amount( approx 450).
Can I leave Infosys before bond period?
You can leave Infosys on your probation period without paying the service agreement bond. This involves taking advantage of a loop hole in the system which some of my ex colleagues at Infosys has successfully managed to conquer without any consequences.
How can I break a bond without paying money?
If the bond has something like deduction of some amount from your salary, you can break the bond by leaving that amount deducted . The organisation will let you leave that way. In a oneway bond, company will not approach the court if you break it.
What is the bond period in Infosys?
Bond duration of Infosys for a fresher is one year from the date you join production. Training period will not be considered for bond.
Do Infosys have bond?
Each year, thousands of freshers join IT firms in the country, and with the exception of Cognizant, others such as TCS, Infosys, HCL Tech and Wipro mandate at least a one-year bond for employees.
What happens if you don’t pay the bond amount?
When you leave without paying the bond or without any information, you will not get any service letters/documents, no final settlement (if any) and you probably will get blacklisted (most certainly in IT/ITES industry).
What happens if I dont pay my bond?
If you don’t pay the agreed-upon fee, the bond agent has every right to relinquish responsibility for you. That means they don’t have to pay your bail. If bail isn’t paid, you go to jail. If you were released before the bond payment occurs, you can go back to jail.
Is bond legal in India?
Employment Bond Employment bonds are employment agreements with negative covenant. Under the Indian Law, the employment agreements with negative covenants is valid and legally enforceable if the parties agree with their free consent i.e. without fraud, coercion, undue influence, mistake and misrepresentation.
Can I resign during bond period?
The employee has the right to resign from the employment even if he has agreed in the employment bond to serve the employer for a specific period of time.
How can I leave Infosys while on probation period?
You can leave Infosys on your probation period without paying the service agreement bond. This involves taking advantage of a loop hole in the system which some of my ex colleagues at Infosys has successfully managed to conquer without any consequences.
Why does Infosys offer a bond agreement to its Freshers?
Infosys provides world class training (costly too) to the freshers for free. Basically that is an investment and they want the return in the coming years (at least one year after training is completed), which is the reason Infosys creates a Bond agreement for 1 year.
What is the notice period in Infosys for a fresher?
Many have answered it promptly and have given ample information. As per Infosys policy, notice period is 1 month during probation and 3 months once you are a confirmed employee ( if on bench, things can get wrapped up within a week too ).
What is the grace period for a confirmed employee of Infosys?
Once you are a confirmed employee of Infosys you are no longer on probation period. So there is a grace period of few days between the end date of probation period and the confirmation date. You will not be given a heads up about this grace period.