Yet another victim of the IT bond policy

I have become another victim of the dubious bond policies that IT companies enforce to reduce attrition.

My story goes like this:
I notified my employer (IT firm - T*S) of separation 2 months before my joining date for MBA course. I could serve 2 months and not 3 months as required by my employer, because my admission offer letter from XLRI only came 2 months before course start date.

As a result, I had to pay Rs.1.6 lakhs to T*S as penalty for not having served the last 1 month. This, despite getting the approval from the geography head of the company that they have no problem in relieving me from their end. T*S HR refused to approve my request to waive the 1-month shortfall, despite clear evidence that I was leaving because of an educational pursuit.

I had to pay this as they refused to issue the service certificate unless I paid the penalty amount. XLRI requires this certificate, without which I wouldn't be allowed to sit in placements.

Finally, I had to pay this amount and I got the service certificate. Through my learning from Business law in our MBA course, I have found that these are unlawful policies that IT companies are using for their own advantage. In a court of law, it would be highly unlikely for such companies to justify why such exhorbitant penalties should be levied on leaving employees.

In the absence of unions and poor enforcement of labour laws, IT companies are applying unjust HR policies like the above for their own advantage. I am sure that in the next few years, we will see the emergence of employee unions even in the IT industry after which IT employers cannot exploit their employees like they do now.