Not able to serve notice period
My company in its contract has notice period of 3 months if terminating from employee side and one month if employer is terminating.
I have a joining date of 1st feb in new company and they are not ready to wait beyond 5th Feb. They don't require my relieving and experience letter as I have worked only 6 months in this company. I was confirmed after 2 months.
I tendered me resignation on 4th of this month. So the maximum notice period I am willing to serve is 25 days. I have requested the HR and director multiple times to release me in this 30 days period. But they are warning me with Breach of Contract and Civil as well as criminal remedies available to them.
They are warning me against leaving the company without they finding a proper replacement or face legal action.
Another clause in the contract is that if the employee is not able to to serve the notice period satisfactorily as per the agreement then he will be liable to the company for payment of remuneration equal to current salary instead of the applicable days of the notice period not served. Failure to make this payment within one month will attract 25% interest per annum.
What solution do I have as requesting them has failed?
Can I legally buy out the notice period even if they are not willing to take the amount? Also if I pay them in 3 months is the interest of 25% for 2 months legally payable by me to them?
Also do I have to pay full three months salary in advance and then collect my one months salary due or can pay 2 months salary and tell them to adjust the 25 days salary for which I will have worked during the notice period? There is no PF/GF pending.
Lastly can I just walk of after 20 days of submitting my resignation and wait for their legal notice and then buy out the notice period?
What options do I have?
Aman Saxena