Employment Agreement Duration and Bond Amount in Public sector Banks

18
4964
Employment Agreement Duration and Bond Amount in Public sector Banks
Dear Mockbankers
Not Selected this time?? Worry Not ! Click here to enroll for Comprehensive Preparation Package for Bank Exam

Employment Agreement Duration and Bond Amount in Public sector Banks

The wait is finally over. The banks have started calling the selected candidates for joining as PO, SO and Clerk.

The candidates are happy on their selection. But still there is a bit of dilemma among those who are joining a job for the first time. They do not know about the legal formalities regarding the Employment Agreement and Bond Amount in the Banks.

Well if you are also in the same category, then worry not, we are here for your help.In this article, we will share the details regarding the Employment Agreement Duration and Bond Amount in Public sector Banks.

Employment Agreement Duration in Public Sector Banks

An employment agreement as the name suggests is a written agreement that contains all the rules regarding your employment including your probation period, notice period that you have to give before resigning from the bank, and also a bond that you have to serve the bank for a minimum period of years before you are eligible to resign. You have to sign on this agreement. This agreement has a legal standing.

Generally the employment agreement duration is in the range of 1-3 years (varies from bank to bank)

Bond Amount in Public Sector Banks

Employment Agreement Duration and Bond Amount in Public sector Banks

As per the Employment agreement, if you do not serve the bank for the minimum number of years as written in the agreement , and want to leave the organisation then you have to pat the bond amount to the bank.

Generally the bond amount is in the range of Rs 50,000 to Rs 2.5 Lakhs (varies from bank to bank)

Below is the list of Employment Agreement Duration and Bond Amount in Public sector Banks

Employment Agreement Duration and Bond Amount in Public sector Banks

 

Friends this was a brief idea about Employment Agreement Duration and Bond Amount in Public sector Banks. If you have any queries/questions, feel free to ask them in the comments section below and we will be glad to answer them for you.

Not Selected this time?? Worry Not ! Click here to enroll for Comprehensive Preparation Package for Bank Exam

Important Links:

  • kishore

    i was selected in union bank as po and what if i left the job in 3 months. Still i should pay the bond amount or less amount i.e my 3 months salary? someone please reply to this

    • AMIT CHAUDHARY

      Kishore
      It will depend on how supportive the HR department people of Union Bank are

  • Garhwal

    Corporation Bank already increased to 1 Lacs and its not Bond but Either FD or Bank Guarantee.

    • AMIT CHAUDHARY

      Garhwal
      Thanks for your info

  • Mansi

    Sir no bond for SBH also??

    • AMIT CHAUDHARY

      Yes no bond for any state bank group bank

  • Shashikant Sharma

    please tell me from when these recruitments are going to start and for which cities are going to include for recruitment.

    • AMIT CHAUDHARY

      Shashikant
      It’s all India recruitment

  • Ashok Laha

    No bond in IDBI bank…

    • AMIT CHAUDHARY

      Ashok thanks for your info

  • Sutarpan Ghosh

    For corporation bank…100000 for 2 years…..

    • AMIT CHAUDHARY

      Sutarpan
      Thanks for your info

  • Lavanya Sri

    What about SBI?

    • Sutarpan Ghosh

      No bond for sbi

      • AMIT CHAUDHARY

        Yes there is only a notice period of 3 months, no bond

      • Lavanya Sri

        Thanks for your information..

  • aman malhotra

    Is the bond applicable for clerical job also..

    • Sutarpan Ghosh

      No..only po and so