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MINIMUM TENURE BOND

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1 MINIMUM TENURE BOND on Wed Oct 19, 2016 11:29 am

lesterparadero


Arresto Menor
Hi, I signed an employment contract with a minimum tenure bond for 2 years. The contract states that if i failed to complete the minimum tenure, I should pay for an amount of 20,000 as a cost of turnover.

They also have a policy that they will hold the first 15 days of salary of the employees. They said that is for the Insurance bond but they hold it without my permission.

For the both inquiries, is it legal? what are the binding factors? Its my 3rd month and i want to resign due to some personal reason.

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2 Re: MINIMUM TENURE BOND on Wed Oct 19, 2016 11:39 am

lukekyle


Reclusion Perpetua
Hi, I signed an employment contract with a minimum tenure bond for 2 years. The contract states that if i failed to complete the minimum tenure, I should pay for an amount of 20,000 as a cost of turnover.
- yes this is legal if you agreed to it.

They also have a policy that they will hold the first 15 days of salary of the employees. They said that is for the Insurance bond but they hold it without my permission.
- they will hold it till you resign or are terminated? No this is not legal but unless you have it in writing that this is exactly what they did, the employer will just claim that the salary you already received was for the first 15 days of your employment.

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3 Re: MINIMUM TENURE BOND on Thu Oct 20, 2016 5:03 pm

lesterparadero


Arresto Menor
thank you for the quick reply.

The 2nd inquiry, they will hold it until i resigned or terminated. There's no written document about this and I just made aware of it when they hold it. I can support this with my payslips.

*Plus is that if i resign, my last 15 days of salary will be HOLD too. *company policy*

Then those 2 cutoff that was HOLD will be part of my Backpay which is not right, right?

knowing that the bond is legal, If i resigned now, I'm guessing that the HOLD salary will be made to pay the bond. that's my whole basic salary. Thus, my basic salary cannot cover the bond in which I also guessing that 13th month will be hold too.

What's your insight?

Thank you so much

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4 Re: MINIMUM TENURE BOND on Thu Oct 20, 2016 11:06 pm

lukekyle


Reclusion Perpetua
its not legal to deduct from your salary to serve as deposit for a minimum tenure bond. the placing of your last salary on hold is legal though and is common practice

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5 Re: MINIMUM TENURE BOND Today at 9:58 pm

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