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Got fired after 2 years with negative experience letter - How to move on?

Krishna

Krishna Kumar  |383 Answers  |Ask -

Workplace Expert - Answered on Jul 14, 2024

Krishna Kumar is the founder and CEO of GoMoTech, a company that provides strategic consulting in B2B sales, performance management and digital transformation.
Before branching out on his own, he worked with companies like Microsoft, Rediff, Flipkart and InMobi.
With over 25 years of experience under his belt, KK is a regular speaker at industry events and academic intuitions, both in India as well as abroad.
KK completed his MBA in marketing from the Sri Sathya Sai Institute of Higher Learning in Andhra Pradesh and his management development programme from XLRI, Jamshedpur.
He has also completed his LLB from Nagpur University and diploma in PR from Bhavan’s College of Management, Nagpur, where he was awarded a gold medal.... more
Asked by Anonymous - Jul 14, 2024Hindi
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Career

Hello Sir, I have joined in one of the startup company in gurgaon. I have bond of 3 years . Where if I have to leave i must pay 6LPA to the company. During my 2 and year I got email it states that under performance.so,will be under observation for next 15 days. I received termination after 20 days. And I got negative words in my reliving and experience letter.but I worked so hard. They have done same 5 other colleagues too. And completely scared because I have cleared the interview but after sharing the experience letter people were not responding the mail . Which is making me mentally unstable. Please help me how can I get out of it

Ans: Hello

It's indeed unfortunate that your company has done this to you... suggest you go and talk to CEO of the company and let them know your situation, I am sure they will relook into this.

All the best
Career

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R P

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HR, Workspace Expert - Answered on Mar 20, 2024

Asked by Anonymous - Mar 20, 2024Hindi
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Hi sir I could not serve my 3 months notice period however I had served 2 months and asked HR to give me early reliving. I mentioned that my parents are not well and attached medical prescription but they denied and said you to serve complete 3 months. After 2 months I stopped going to office they were sending me absconding mails meanwhile and after 1month they sent me termination letter what shall I do In such case ? I was working there for 2 years.
Ans: I’m sorry to hear about your situation. When facing termination due to not serving the full notice period, it’s important to understand your rights and the potential legal implications. Here’s what you can consider doing:

Review Your Employment Contract: Check the terms regarding the notice period and termination. There might be provisions for situations like medical emergencies.
Legal Consultation: It may be beneficial to consult with a labor law attorney who can provide advice based on the specifics of your case and the applicable laws.
Documentation: Gather all relevant documentation, including the medical prescriptions you submitted, any communication from HR, and the termination letter.
Negotiation: You could attempt to negotiate with your employer, explaining the situation with your parents and seeking a compassionate resolution.
Labor Office: If negotiation fails, you may approach the local labor office or labor court for guidance and to explore options for redressal.
Understand Legal Precedents: Familiarize yourself with any legal precedents that may apply to your case. For instance, the Supreme Court has provided judgments on employment notice periods that might offer insights into your rights and obligations.
Remember, each situation is unique, and the best course of action depends on the specifics of your employment contract and the company’s policies. It’s crucial to handle the matter professionally and legally to ensure the best possible outcome. Good luck!

..Read more

R P

R P Yadav  | Answer  |Ask -

HR, Workspace Expert - Answered on Mar 21, 2024

Asked by Anonymous - Mar 20, 2024Hindi
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Career
Hi Sir/Madam, I was working in an company where only 7 people are there .And, I absconded from the company 2 week back, because there they were discriminating the employees by religion who all are not their own religion. Every morning they'll use to do thier religious related things and also they were asked me to do gradually . But, I refused, because I never ever used to do those things and not comfortable as well. Since the day, that Manager was indirectly targeting, pressurizing me & some people and separating us. Not able to work properly and got depressed But, in our Offer letter it has been mentioned that there are 3 Years of probation period and without completing Notice period employees experience letter and releaving letter won't be provided. So, I absconded from that organisation without any releaving letter and experience letter, because I couldn't not able to pursue there. So, pls give right solutions to pursue my career, because I have 2 Years of experience. I don't want to waste my work experience.
Ans: I’m sorry to hear about your difficult situation. But I can suggest some general steps you might consider:

Document Everything: Keep a record of all communications and incidents that led to your decision to leave the company. This could be useful if you need to prove your case later.
Legal Advice: It might be beneficial to consult with a legal expert or a labor attorney who can provide advice based on your specific situation and local labor laws.
Human Rights Commission: If you believe you were discriminated against based on your religion, you might want to contact your local human rights commission or similar organization.
Job Search: Start looking for a new job that aligns with your career goals and provides a respectful work environment. Your previous experience will definitely be valuable.
Explain Your Situation: When applying for new jobs, be honest about your situation. Employers understand that not all work environments are healthy, and explaining your situation might help them understand your decision.
Remember, it’s important to seek professional advice in situations like these. I hope things get resolved for you soon.

..Read more

Latest Questions
Ramalingam

Ramalingam Kalirajan  |7548 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Jan 17, 2025

Asked by Anonymous - Jan 17, 2025Hindi
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Money
I'm 35 years old. I want to invest INR 65000 for retirement at 50 years old. My current expenses 65000 per month. Please guide me.
Ans: Retiring at 50 with your current lifestyle requires a carefully crafted investment strategy. Here’s a detailed guide tailored to your goal.

Step 1: Define Retirement Corpus Requirement
Current Monthly Expenses: Rs. 65,000.
Inflation Adjustment: At 6% inflation, your expenses will increase significantly by 50.
Retirement Corpus: The corpus must sustain you for at least 30+ years post-retirement.
Lifestyle Goals: Include travel, medical emergencies, and aspirational expenses in calculations.
Step 2: Asset Allocation Strategy
A balanced mix of equity and debt instruments can help grow your wealth steadily while minimizing risks.

1. Equity Mutual Funds (70% Allocation)
Why Equity? High growth potential to beat inflation over the long term.
Recommended Categories: Flexi-cap, mid-cap, and large-cap funds.
SIP/Investable Amount: Invest Rs. 45,500 monthly in equity mutual funds.
2. Debt Instruments (30% Allocation)
Why Debt? Stability and regular income during volatile markets.
Recommended Options: PPF, short-term debt mutual funds, or NPS (Tier I).
SIP/Investable Amount: Allocate Rs. 19,500 monthly.
Step 3: Include Inflation Protection
Inflation reduces the value of money significantly over time.
Your retirement corpus should grow faster than the inflation rate.
Equity exposure helps overcome inflation impacts effectively.
Step 4: Ensure Tax Efficiency
1. Equity Mutual Funds
Tax Rules: Long-term capital gains (LTCG) above Rs. 1.25 lakh taxed at 12.5%.
Action Plan: Use annual redemption to manage gains below taxable limits.
2. PPF and NPS
Tax Benefits: Both offer tax-saving benefits under Section 80C.
Lock-in Period: Ensure alignment with your retirement timeline.
Step 5: Emergency Fund Creation
Build an emergency fund equivalent to 12 months’ expenses (Rs. 7.8 lakh).
Park it in liquid funds or a high-yield savings account for quick access.
Step 6: Health and Risk Coverage
Health Insurance: Ensure adequate coverage to avoid depleting investments during medical emergencies.
Life Insurance: Use a term plan to secure your dependents until you achieve your retirement goal.
Step 7: Regular Portfolio Reviews
Review your portfolio every six months.
Rebalance based on performance, changing goals, and market conditions.
Seek advice from a Certified Financial Planner for optimized asset allocation.
Step 8: Additional Recommendations
Avoid Real Estate: Illiquid and high transaction costs make it unsuitable for your timeline.
Avoid Direct Investments: Opt for regular plans via mutual fund distributors guided by a CFP.
Diversify Investments: Explore international mutual funds for added growth.
Step 9: Incremental Contributions
Increase your SIP amount annually by 10-15% to align with income growth.
This ensures your corpus grows significantly over time.
Finally
Achieving financial independence by 50 is ambitious but achievable. Consistency in investments, inflation-adjusted growth, and regular reviews are critical. Focus on disciplined execution of the outlined plan for a secure and fulfilling retirement.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment

...Read more

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