Hello,
It is clear from the information provided by you that you are under an obligation to give TWO months NOTICE if you resign the employment. During the notice period you have no right to even take leave at your credit, without express permission.
The company MAY at its SOLE DESCRITION, relieve you earlier. The resignation becomes effective from the date of receipt of the same by the company. Therefore if the company agrees, let us say, ten days after you submitted resignation, to relieve you early, then it will pay you for the ten days you have worked but insist upon you buying out the notice period. The company has agreed in your case to your buying the notice period. And then the company has asserted its right to terminate your emloyment. We need not go into that at this stage.
From facts given it is clear that the company CAN (if it so decides) relieve you earlier than the due period, in which case you have to buy out the entire notice period and the company will pay you for the period you have worked after submitting resignation.
In as much as you are a party to these provisions of the contract of employment, you have to abide by the same.
The company apparently acting within the contract.
Now you take a decision as is most applicable in your situation.
Regards
samvedan
July 19, 2011
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