1. If you are not yet relieved from the services of your bank, you can withdraw your resignation letter and can continue in the present employment. Merely because the bank has conveyed the acceptance of your resignation does not make you to compulsorily get relieved from the bank. If you decide to continue in the services of the bank, this bond period and notice period would not bother you.

2. Since you have already served Service Bond of three years and also 3 months' notice period calculating from the date of submission of resignation letter in May'14, the bank can not ask you to deposit money in lieu of the same. The same thing can be brought to the notice of the bank authorities.

3. In the resignation letter by the employee, if there were to be a particular relieving date and depending upon the exigencies of the work, to arrange for alternate or substitute employee, the bank may take time to accept the resignation and in this case it has taken 10 months.

1. You shall have to pay the Bond money for leaving the PSU Bank within the stipulated period of 3 years,

2. You are reqyuired to pay salary of 1.5 months only being shortfall of 3 months notice period since you had given only 1.5 month's notice.

Yes the resignation is valid even if it is accepted after 10 months. Since you filed your resignation before the bond period expired, you are deemed to have violated the agreed terms and conditions. It is advisable that you make a representation to the higher authorities and try to settle the matter in a amicable manner. If the Bank does not respond to the representation in a positive manner you can file a case against the employer for making you wait for 10 months in acceptance of the resignation and for a direction that since for three years you were serving the company and a valid notice was served in time for resignation, it be deemed that no violation of terms has taken place in the facts of your case.