Dear sir,
I am working for private high tech semiconductor chip design firm. I have resigned on 17th january. my employer has taken signature from all the employees on 10 rupees stamp paper. the content on stamp paper is as follows:
to hide company name I am using company name as ABC.
"The provisons of this agreement are, in effect, promises you, the employee, make to ABC in consideration for entering or continuing in employment of ABC. This agreement does not, however, include a promise of perpetual or continuing employment by ABC. ABC spends a substantial amount of effort, time and money in training its employees. All of ABC's employees are "at will" employees, which means that the relationship is freely entered into by both parties and that either ABC or you, the employee may terminate the relationship at any time, with or without cause, and with or without notice. while either you or ABC may terminate the employment relatiponship at any time, you are required to provide adequete notice of minimum of 3 months to ABC prior to resignation so that ABC has time to ensure proper transition of proper job responsibilities. If employee is failed to serve the notice period, he/she is liable to pay the 3 months salary to the company. In any case, management reserves the right to decide on the notice period and notice period recovery. In the event of termination of this employment by either you or ABC, and regardless of the reason, the provisons on confidentiality and the covenant not to compete of this agreement shall survive the termination of employment i.e. shall remain in effect. No person except for the president of ABC, has the authority to enter into an agreement for employment of you on other than an "at will" basis, and even the president may only do so in writing signed by him. You should not rely on any statement by anyone to the contrary"
Above is the word by word content written on 10 rupees stamp paper. I have signed it, because we were told to sign it or quit company.
In my resignation, I have given a notice period of 1 month rather than 3 months. I am urging them to relieve my within a month. they are saying you'll have to serve 3 months notice period. I offered them 2 months notice at maximum, they are denying for that as well. then I offered them 2 months notice period service and 3 months salary. they are saying that we dont want money but want you to serve for three months.
1) keeping in mind above content of agreement Am I entitled to serve 3 months notice period especially when I am ready to pay them money for notice period.
2) what options I have, when they are not ready for notice period buyout.
3) I requested them a lot, but they are adamant on 3 months notice period. my new employer is not ready to wait for three months. On the ground of legality where do I stand?
Thanks
Saurabh
