Breaking Green card bond

[vohram]

Hi,

I work for an Investment bank. They initiated my GC processing last july (july 2012). As part of the application packet, i also signed a bond that if i were to leave the company before GC is approved i will be liable to pay entire expense. However, things have changed in past 6 months such that i need to be with my parents back in india. If i want to leave the company and country for good, what are my options (short of paying gc expense)?

Would it in any way hamper my chances of finding a job in investment banks in india?

thanks

[omshiv]

surprising that an Investment Bank has a Bond like this...nevertheless the GC fees anyways should be paid by the employer...ask me about it :)

[JoeF]

Well, for one, the employer by law has to pay for all costs related to PERM, including lawyer costs. The employer can under no circumstances get that money from the employee.

So, if that is not spelled out there, the whole contract may be void.

It is allowed for the employee to pay for the I-140 costs.

[pontevecchio]

Bonds do not exist here. Talk to a Labor Lawyer.

[venky144]

maximum gc expenses till u get ur gc would be max of 10000...till u have filed I485..

this expenses include filing gc/ead for ur wife too..

so u can pay that and leave the company for good or better offer

[t75]

Have an attorney read your contract for an assessment of the validity and obligations you would have.

[karl]

Well, first off, this is not a 'bond'. This is part of a series of contractual paperwork that most companies require you to sign when you accept an employment OR when the company files for your Green Card. Don't be surprised that an Investment Bank has this kind of contract. I have seen companies in all domains having similar contracts. This is as common as the non disclosure agreement contracts that people sign.

Sponsoring a Green Card costs significant amount of money. Only a person that authorizes that payment would know that. I recently received an invoice for 20K for a GC that we sponsored for an employee. I had to jump a lot of hoops to get that amount approved to my unit's cost center. In the past, I have seen managers authorize payments anywhere from 15K to 30K to sponsor GCs.That being the reality, I see nothing wrong in requiring an employee to work for a few years once he gets the GC.

Referring to OP: The language in your contract seems interesting because it refer's to employees leaving the company 'before' GC approval. Have an attorney read your contract once. Also, I have not seen very many cases where a company's HR has seriously persued anyone that wilfully violates a GC contract. But having dealt with HRs for a long time now, I personally would not mess with them!

*** This is strictly my opinion ***