Hi,
I am working for an MNC in IT sector. I have 3 months notice period in my current job.I have got an offer from other company and they are asking to join in 1 month because of urgent requirement.
They are ready to buyout the 2 months notice. As per my offer letter buyout option is not mentioned. Below is the termination clause mentioned in my offer letter:
Your employment may be terminated at any time by yourself, or by the Company, upon providing three month’s written notice to the other party. In the case of the Company, termination may be effected by payment of salary equal to your notice period not worked as payment in lieu of notice.
For some or all of the notice period, the Company may require you to take garden leave (and not perform any duties), to work from home, or to perform alternative duties.
If i understand correctly employee doesn't have option to buyout however the employer can terminate the employee with the compensation of payment salary equal to the days employee didn't serve in 3 months notice period.Please correct me if my understanding is wrong.
Also Please suggest me if there is any option to reduce the notice period within above mentioned clause.
If i fail to serve the complete notice period , what are the legal actions company can take.
From India, Bangalore
I am working for an MNC in IT sector. I have 3 months notice period in my current job.I have got an offer from other company and they are asking to join in 1 month because of urgent requirement.
They are ready to buyout the 2 months notice. As per my offer letter buyout option is not mentioned. Below is the termination clause mentioned in my offer letter:
Your employment may be terminated at any time by yourself, or by the Company, upon providing three month’s written notice to the other party. In the case of the Company, termination may be effected by payment of salary equal to your notice period not worked as payment in lieu of notice.
For some or all of the notice period, the Company may require you to take garden leave (and not perform any duties), to work from home, or to perform alternative duties.
If i understand correctly employee doesn't have option to buyout however the employer can terminate the employee with the compensation of payment salary equal to the days employee didn't serve in 3 months notice period.Please correct me if my understanding is wrong.
Also Please suggest me if there is any option to reduce the notice period within above mentioned clause.
If i fail to serve the complete notice period , what are the legal actions company can take.
From India, Bangalore
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