EP Approved for future employment but current company not relieving me

Such a clause, about a penalty for not joining after EP issuance, is unusual - but if you agreed to it (by signing the contract), then you have to abide by it!

What does this contract say about terminating it? Maybe there is a possibility to get out of it after a short while or by paying another (possibly lower) penalty)?

If not, you can of course try tonegotiate with them and hope for their (probably very limited) goodwill.

Breaking the contract (by just not showing up) is NOT recommendable: In that case you will probably be banned from ever working in Singapore again - and the company might (although that is unlikely, I think) also pursue the penalty payment internationally.

I am puzzled by your statement that your current employer isn't "allowing you to leave". Why can't you just terminate that contract? Or does it also have unusual clauses that make this difficult? (In that case I would say: Next time better read your contracts properly and only sign if you agree with everything in it!)

@beppi  thanks for your reply. I have signed offer letter not contract. Iam currently working from India and future employment is from Singapore. So does this penalty clause is still applies?

@siva34356 I assume this "offer letter" counts as a contract. Does it specify all the things relevant for employment, incl. the topics in your initial post? If you signed it, you have to abide by it!

Thank you for your reply..