Resignation issue and notice period buyout

Hi, I am working in a company located in Gurugram, Haryana for more than 2 years, but due to some personal reasons i have put resign in my organisation last week for which my notice period is of 3 months, i am unable to serve those 3 months complete. I want to buyout my portion of a notice period, ready to compensate my company for that. And as per my information, our company does have buyout option (its written in my contract that notice period can be waived off, there is an space for notice period buyout difference in my intranet and especialy my former co-workers have avail this buyout service. But my management is not supporting me on decison as of now. Kindly advise me on this.

Answers (3)

298 votes

hi , no need to buyout option , you can leave your services dispute you signed the contract, illegal/arbitrary contracts are not valid in the eye of law. however you have to meet alongwith all documents to get expert advise . thnx

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269 votes

Your employment will be governed under the frame work of your employment contract. Since the contract states and provides for buy out of the notice period, you have the right to exercise this option. If the management continues to resist I would advise you to initiate the required legal process by way of serving a legal notice on the employer.

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82 votes

First of all you are only bound by the terms of the contract issued to you. If a provision is written in your contract than it will be applicable.

If there is an amendment in the company policies then it must be communicated to you and your contract must be amended. That has not happened it seems.

Coming to your resignation and notice period. Unless you are going to a competitive company, your company may not have any issue with and will not take any harsh action.

As per the law you can terminate the contract at any time and need not even serve any notice period. If clause says so they can recover any loss in full and final.
Don't pay anything on your own. Since your resignation is because of personal reasons, they have to relieve you. Just mention your last working day in the letter. If they don't accept it then send it by speed post. They are bound to accept it.

Make sure you return all company data like laptop, if card as it may become the issue.

Don't worry, companies do scare but can't do anything under the law!

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