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
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
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.