Notice Period don't want to be served at client company in Mumbai

Notice Period from Parent Company Offer letter: LEAVING THE COMPANY WITHOUT SERVING NOTICE PERIOD; If you wish to leave the services of the Company, a clear written notice of 15 Days days has to be given to the Company. In case of failure to give such written notice within the prescribed time, you are bound to make good the loss suffered by the Company and any other charges/liabilities Company incurs consequent to the failure to give required written notice. However, due to exigencies of business the Company may at its sole discretion reject the salary in lieu of notice and ask you to serve the entire or part of the notice period. Condition: I don't want to serve the notice period Q1. What are the consequences of not serving the notice period ? Q2. If absconded and hidden about current job (1st job of 2-3 months), how shall it affect future employment ? Q3. How does PF account gets affected when: i. notice period not served ? ii. notice period not served and absconded ?