What amount of bond do I need to pay based on the following conditions?
I want to join a government company. But there is a bond condition which states-
"The Management Trainees who are selected for absorption in Scale
I, before joining as probationer will be required to give an undertaking -cum-Guarantee Bond
to serve the Company for a minimum period of four (4) years including the probation
period. In the event of their resigning from the Company or making it obligatory on the part
of the Company to terminate the employee before the expiry of the bond period, they will be
liable to pay liquidated damages equivalent to Consolidated pay received during the training
period of two years, which will be proportionately reduced depending on the length of service
rendered. To this effect, he/she will have to submit a stamped Bond duly executed by two
sureties (not blood relatives), of sound financial standing in the format prescribed by the
Company."
Amount paid during 2 year probation is stated as-
"The selected candidates would be paid a consolidated pay of Rs. 40,000/-
p.m. for the 1st year and Rs. 42,500/- p.m. for the 2nd year."
Now, I want to know the answer of the following questions-
1) If I leave the company after 6 months of joining then how much bond amount do I need to pay?
2) If I leave the company after completion of probation, e.g. I leave the company in the 3rd year after serving the company for 6 months in the 3rd year then at that time how much bond amount do I need to pay?