Soft Skill Trainer / Hr Consultant - India
19th October 2015 From India
13th November 2015 From India, Calcutta
This clause is perfectly legal and not in anyway ab initio void.
13th November 2015 From India, Pune
In my view, it means, If Mr,. Sachin wants to leave service, either he has to serve and perform for next 90 days and if he wants to leave without serving notice then he has to pay the company, notice pay for 90days.
In other hands, company can also give notice to Mr. Sachin to leave service by giving 90 days notice else notice pay in lieu of.
Here 'acceptance of notice period by the management' appears to mean, Mr. Sachin can serve notice for 90 days, but whether the company will allow him to perform for next 90 days, after service his notice, is the sole discretion of the management. And in that case the company has to pay him for the balance (notice) days, if it does not allow him to perform his notice days.
17th November 2015 From India, Calcutta