Hi All,
Can anyone help me.
I am serving notice period of 90 days in my current company. I want to serve notice period only for 30 days and want to payout for 60 days.
So how much I need to payout to the company.
As per offer letter I need to pay only basic but not sure.
By basic pm is 20K and EL is 5.
Please do the needful.
Below is the clause form my Offer Letter and a ticket:
"If early release accepted by Business, the number of Notice period shortfall days will be recovered from your Full and Final settlement considering the Basic pay."
"
1. Either party can terminate this employment by serving a notice of 90 days on the other. The Company may at its absolute
discretion make a payment representing salary (basic) in lieu of notice of termination. However, for cause like misconduct,
gross negligence, willful insubordination or disobedience, misbehavior or non-performance, Tech Mahindra Limited. may
terminate your services with immediate notice. The Company shall have the right to place you under suspension on
subsistence allowance and benefits as applicable pending any investigation into potential dishonesty, gross misconduct,
misappropriation, gross negligence, fraud or other circumstances, which expressly provides for termination of your
employment which if proved, would entitle The Company to dismiss your services summarily.
2. In the event of your serving on The Company a notice of termination of employment by submitting a resignation letter, your
release will be governed by the relevant policies in force at that point in time, subject to satisfactory handing over of your
duties, responsibilities, Company documents, Company assets, etc. to the relevant parties.
3. In case of Associates who are governed by any other service agreement(s) for serving a minimum stipulated period, the
associate will need to mandatorily fulfill requirements of Clause 3(a) along with applicable exit policy clauses under stipulated
service period agreed to and provided therein.
"