I would like to ask if i sign a contract that states that "you have to stay in the company for four years and pay 100,000 pesos if you failed to to do so" is legal even the company have paid nothing on my study.
The situation is that i wrote a letter to the General Manager stating that i will study MBA and i will render at least 8 Hours overtime per week without pay in exchange to my Saturday duty and the manager approved it. After a year of my study, the company made a contract that i will be staying in the company for 4 years after the graduation and pay 100,000 pesos if i failed to do so. If i will resign considering that i already done with my study and i signed the contract that states the subject aforementioned, am i liable or pay the amount even the company has no expenses during my study?
Thank you for considering my concern.
I hope that you can reply on this.