Our company has floated a new Agreement stating that we need to provide a 4 weeks notice to quit or pay X amount of $$. The Agreement came along with a raise in salary with a condition that the raise will be impacted once we sign the agreement.
I did not sign the agreement but put a 2 week notice to resign (per our earlier agreement during joining, it was a 2 week notice).
Now, company says that it is a part of policy now and I must serve 4 week notice or pay $X.
1) Is it legally enforceable even though I did not sign the agreement ?
2) If they credit the increased salary for this pay period, can they say that since I accepted the increased pay, the agreement is binding ?
3) Company also declared bonus (for previous year). Are they bound to pay it to me even though I am serving the notice period?
I did not sign the agreement but put a 2 week notice to resign (per our earlier agreement during joining, it was a 2 week notice).
Now, company says that it is a part of policy now and I must serve 4 week notice or pay $X.
1) Is it legally enforceable even though I did not sign the agreement ?
2) If they credit the increased salary for this pay period, can they say that since I accepted the increased pay, the agreement is binding ?
3) Company also declared bonus (for previous year). Are they bound to pay it to me even though I am serving the notice period?