Dear Vpriya
Notice period for leaving the service, depends from organisation to organisation, Generaly notice period is 1 month from any given date of tendering his/ her resignation and ends on completion of 30 days from the date of submission of resignation.
Most of the corporate sectors as on date are demanding 3 months of notice period for leving the service volentierly in order to serch for a new employee to fill the vacancy, the said clause is stipulated the the appointment letter it self, and in turn the employer also give notice period or salary equal to the notice period if at all he desires to leave the employee. The notice period must be of equal ratio as per law, if the employer give 1 month of notice period and requests the employee to give 3 months of notice period it is illegal and and stands as a nul and void agreement betwee the parties.
The salary must be paid in full i.e. Basic + D.A and other allowences as the employee was drawing as on date of submitting the resignation + his full and final settlement amounts i.e. Leave with wages for the balance leave + Gratuity if the employee completes 5 years and more of service in the said organisation + Bonus @ 8.33% upto the date of leaving the service during the year. If the employee desires to equit the employee immediately he had to pay 1 month notice period salary which all in total the employee was drawing as the date of quiting the services.
As you said if the employee submits his resignation with one month notice period in the middle of the month, he had to be paid his full month salary for the month of August as usually along with other employees and the balance 15 days salary to be paid along with his full and final payments.
Mohan Rao
Manager HR