It says as below:
You will be on probation for three months .Your confirmation will be communicated to you in writing.
company reserves the right to terminate your employment in case your performance, behavior and / or conduct during the probation period is found unsatisfactory.
During your employment either you or company can terminate the appointment by giving 30 calendar days written notice or 1 months basic salary in lieu of the notice.
company reserves the right, if it is in the interest of the business and current assignment, to ask you to complete your notice period or decide whether your existing earned vacation or basic salary in lieu of notice period may be adjusted against the entire or partial notice period.
23rd May 2010 From India, Hyderabad