How Do I Formally Request a Notice Period Buyout? Need Help with Letter Format

Hi all,

I have resigned from my current company, but I have a 90-day notice period and have just completed 30 days. I need to pay back 60 days' worth of salary to the organization. However, I have received an offer from another company that is willing to buy out the remaining 60 days of my notice period. I would like to send a formal letter regarding this information. Could you please provide me with the official letter format for buying out the notice period? Your assistance is greatly appreciated.

Regards,
Siva Kumar

Hi,

Please note that this letter will be provided by the organization you are leaving. They will calculate the shortfall in the notice period and issue you the necessary documentation. Kindly ensure that it is signed and stamped on the letterhead before submitting it to your new employer.

Thank you,
Fayeg

Name:
Position:
Organisation Name and Address

Date

Dear (line manager name - e.g., Mr. Smith, or first name if appropriate),

Please accept this as formal notice of my resignation from the position of (your job title and site/department/division as applicable), with effect from (normally the date of the letter or receipt of the letter - check your contract - if in doubt refer to the date of the letter).

I realize that my contract of employment requires me to work until (date that your employment ceases according to the notice period, calculated from your stated effective date of resignation). However, I'd be grateful to be released earlier on (date that you actually need to leave), and will assume that this is acceptable unless you inform me to the contrary.

(This part is optional:) While I believe that I am moving for good reasons, I am sorry to leave, and I thank you for your support during my time with the company, which I have found enjoyable and fulfilling.

(And if applicable:) Please let me know the arrangements for handing back equipment, company car, etc., and handing over outstanding work and responsibilities.

Yours sincerely etc.