Suggestion Regarding Buy Out Notice Period

Hello Sir/Madam,

I am a recent (2009-2011) MBA pass-out. I have joined a company[ BPO ] two and a half months ago in June 2011. In the terms and conditions leaflet provided to me at the time of joining along with the offer letter , it is written that a notice period of two months has to be served .

I have been advised by my doctor to take a months rest due to my severe health issues .

I had spoken to my line manager , team lead and my HR regarding my condition and I think they understand why I am not able to attend the office.
I also submitted my resignation on 2 Sep 2011. Since then I am at home taking rest as per my doctor's advice.

I got a call from the HR saying that she has discussed with my manager and they are ready to relieve me in which case I have to buy out the notice period. She also added that my resignation is still in active status.

Now my question is 1) How does the buyout out of the notice period happen - is it the basic salary for two months or the net salary which has been credited to my account.

2) As I am a fresher , unfortunately I am down with my ill health , the 2 months of experience would not count much , I dont want to show any experience and I want to start my career afresh whence I recover from my ill health , In that case what implications do I have to face if I dont Buyout the notice period . What advantages do I see if I buyout the notice Period

Thanks and Regards
Gopal

Normally, the buyout of N.Period is on basic salary. Check with your appt. letter conditions.
Pon

Hello Mr Pon ,
Thanks for your suggestion. The Terms and conditions of my employment says
//
When you formally resign from the service of the Company,
the Company may, at its discretion, permit you to
i. Adjust the vacation accumulated toward part of the
notice period.
ii. Pay up for the notice period in lieu there of on your Annual
Gross Compensation.
//
I want your suggestion on my second question
2) As I am a fresher , unfortunately I am down with my ill health , the 2 months of experience would not count much , I dont want to show any experience and I want to start my career afresh whence I recover from my ill health , In that case what implications do I have to face if I dont Buyout the notice period . What advantages do I see if I buyout the notice Period or can I just go ahead with not paying up for the notice period
Thanks and Regards
Gopal

Hello Gopal,

Like Pon mentioned, the Buy-out of NP is usually w.r.t. the Basic--but since your Appointment Letter mentions: ....Annual Gross Compensation, ti will be on the Gross CTC in your case.

Coming to your II query, pl note that even though you intend to re-start your career all over again, by clearing this Employment with clarity [clean record so to say], you are only ensuring that your career record stays clean. If you don't leave this company with the records in-order, this company can put you in their "Absconding" List. With the BC option being exercised during the hiring process by more & more companies, that could be a risk you might be taking--from the long-term perspective.

As of today, the BCs are done w.r.t. the Companies where one has worked--AS SHOWN IN THE RESUME. But going by the Skills Register/Repository that is getting discussed regularly now, it is quite possible that such situations [where employees hide the employment track history] also may come out into the open.

Just give this a thought & decide accordingly--since at the EoD, it's YOUR career.

Rgds,

TS

Hi Sir ,
Thanks for your advise, I just want to know what is this ” ABSCONDING LIST” does it really exist . I am not registered in NASCOM ( Skill Repository ) . Do companies register us in NASCOM as soon as we get employed with them!? . I have heard that absconding list prevents you from getting back to your previous employer as absconding list is internal to them . Is it / will it be made available externally . The team lead told me that i would be listed in ” absconding list ” and i will not be placed elsewhere. As I previously said i dont want to show this experience and start my career afreash Can you explain me what is the mechanism and functionality of absconding list ,
Thanks and Regards Gopal

Hello Gopal,
There's nothing like a FORMAL Absconding List--it's only a list of names of ex-employees who left the company without completing the relieving formalities. Whenever any Background Check query comes to this company, it gets revealed.
Reg the NASCOM Skills Repository, as far as I know, it's the Company that registers their employees--NOT the individuals.
All the Best.
Rgds,
TS