tl;dr : Wiling to pay buyout but they are threatening with no relieving letter.
I work for an IT company, they have exploited in the name of onsite, made me work multiple weekends and sometimes even 15 hours a day work. I have decided to leave after getting a great opportunity when they realise I won't stay on false promises anymore they started harassing asking me to work my job as well as asked me to make sure I make my co worker "as good as me" (their words). New company want to buyout they are not letting me , this is the policy
"On confirmation, you will be required to give three months' notice or salary thereof in case
you decide to leave our services, subject to the Company's discretion. Where circumstances make it necessary,
the Company will have the discretion to relieve you only at the end of the three months' notice period.
Similarly, the Company can terminate your services by giving three months' notice or salary thereof."
Talking to HR is not an option as they are all in this cabal.
Hi Ishank, as per the copy pasted clause it is clearly stated that "you will be required to give 03 months notice or salary thereof incase you decide to leave our services, subject to the Company's discretion." It's the words - "subject to the Company's discretion", which break the illusion of you having any right to decide whether you'd like to serve the notice or pay salary in lieu. Further they have made it clear that it is is atheir discretion whether to relieve you only at the end of 03 months or give early release as they deem fit.
Once you officially resign in writing/email, your notice period commences from that date, whether the Company accepts your resignation or not. At some point they will have to acknowledge it, can't indulge in bonded labour ofcourse. Recommend that you negotiate with the new company and tell them that you have put in your papers and will be released on so and so date after serving the notice period.
Here I would like to add that there is no provisions under any law to issue any relieving letter. So even if you serve 03 months, the employer may refuse to issue relieving letter. So it is better to meet the HR personally and settle the issue cordially instead of taking legal recourse, at least at this stage.
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