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Its depends on the the terms and conditions of your company. It varies from company to company.
Please go through the appointment letter given to the employee.
I would suggest some other alternate give him some time period and tell him this is the scenario. He is new this may be a reason why he is able to peform well.
Firing is not the solution to bring in good performance..

From India
hey..hi vineet...dude i dont think thats its possible to fire anyone on a day notice even if the person is under probation. you are ought to provide him notice period before firing as mentioned in the "letter of appointment" of the employee which they get at the time of joining...but seems like you'r quite in a hurry to hand over the pink slip to someone...???:beatup:
From India, Gurgaon
Even if there is such a policy... Dont worry..! You can go for immediate leave by 'fabricating a reason'(Medical.. etc)..!
You can send a mail for asking immediate leave..
After getting it approved;or even not, You can send a Resignation mail.
They(your current orgn) can do nothing. Even they go for legal actions also, You are safe! Because your leave must be considered as Notice period.

From Qatar, Doha
depends on the appointment letter u have issued ... if the appointment letter says 24 hrs then yes if nothin is mentioned then to be on a safer side give him a week’s notice.. thats accpetable
From India, New Delhi
Hi,
Probation period in itself the period prior to confirm an employee based on his/her productivity. depending on your letter of appointment the action shall be taken. but being a good HR professional give warning letter (if the reason of firring is minor and alterable) then 2 phase you can make that worker out of the unit.
Incase of any Indisiplinary action as mentioned in your standing orders or any major act of theft/ sexula harrasment etc that worker can be fired with one day notice period.
you can contact me anytime
RG Singh

From India, Ludhiana
hi,
Wt you really mean by probation......? Probation is nothing but a period in which we estimate if the person has any problem which confront him form doing a professinal work.
If he fails you can fire him and leave him..........
But company gives some days of notice period on human approch for him to find another job
Regards \SHYAM

From India, Mumbai
Vineet...
It is not possible to relieve an employee immediately, you can however stop him for working with immediate effect and explain the circumstances to the employee and then relieve.
Please understand the Labour laws in India is very well formulated and it is good to abide by them....Many organizations hire / fire without meeting any statuatory compliances........all these organizations will face the music of the law soon.
If you have a qualified labour consultant in your organization, please authorize him to handle this matter otherwise hire a labour consultant duly qualified in labour laws to handle the matter.
It is a pity 96 % of our HR brotherhood do not apply what they study or get updated...when they hire / fire employees.
Arokian

From India, Madras
A lot have been said. You should look at all options to give him/her chance and if you have done so to a reasonable extent in the past you can fire him by paying his Notice pay (1 month) or as it is prescribed under his contract of employment.
Saurabh

From China, Leizhou
Dear,
if you were mentioned notice period detail in the appointment then you have to give notice period according to your company rules otherwise there are no requirement for the notice period and you can dismiss his service for the misconduct or Indisicplinary manner.
Regards
Amrish Singh Raghuwanshi

From India, Bhopal
When an Employee is on pobation there is always a risk of termination, no matter what the reason is. In some of the cases even Billable Employees are asked to Resign forciably without giving them any amount of notice period, so think about the one who is on Probation.
Such worst situations had been more frequently come into picture for last 1 year.

From India, Pune
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