Hi All,
I am working for a small Pvt.ltd.company in hyderabad, i joined this organisation in the month of March, i have resigned in the month of september, and my resignation is accepted by the company,however, i my Appointment letter states as following "IF YOU WISH TO TERMINATE YOUR EMPLOYEMENT WITH THE COMPANUY YOU WILL BE REQUIRED TO SERVE 3 MONTHS NOTICE TO THE COMPANY OR SUBJECT TO COMPANY'S DISCRETION, IN LIEU OF THE NOTICE PERIOD COMPENSATION TO THE COMPANY EQUIVALENT TO YOUR 3 MONTHS SALARY" i would like to know answers to my below questions.
1) Am i entitled for buy out option ?
2) Can the company reject my buy out option even if i am ready to pay the compensation as stated in my appointment letter ?
3) I do not understand this discretion concept, for all discrition the company might raise , when i am compensating them with money for breaking the contract, which in my case is 3 months of notice period, can a company still say it is its discretion ?
4) I do not want to serve whole of 90 days , i have already in my resignation mail informed them that i shall serve a 1 months notice period, and to the same the HR responded stating that as per 3 months notice period stated in your appointment letter your last working day would be 7 dec. Can i now write a mail to them saying as per the PILON clause in the appointment letter, i am willing to buy out the rest of my notice period ? can they say its the company's discrition ? if they do not agreee for a buy out what should i do ? also if they dint want an employee to buy out the notice period why have they mentioned this clause in the appointment letter. I request the experts to please suggest and guide me in the right direction. Thanks.