Sir/Madam, Is any confirmed public sector bank employee required to pay a 3-month salary to the Bank if he is unable to give/serve 3 month notice period before resigning. There is no mention of depositing money to the Bank in service rules of the Bank for the confirmed employees.
From India, Gorakhpur

The provision of buy-out of notice period in case the employee is unable to serve the notice period can be read down from the basic premise of Contract Act 1872 regarding compensation for breach of the agreement.
From India, Mumbai

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