Stuck in a Job Due to 3-Month Notice Period: How Can I Transition Without Losing Offers?

Dollyjack
I am working in an IT service organization for over 2 years and planning to move out. I am getting good offers; however, I am unable to move due to a 3-month notice period. None of the companies are willing to wait for 3 months to have me in their system; they want immediate joiners.

Because of this issue, I am losing many good offers. I know I have to serve my notice as per company policy, but is there a way to reduce the notice time? I spoke to my HR, and they say that they cannot do much about it. I have not resigned yet because, after resigning, I do not want to be at home jobless when nobody is ready to wait for 3 months for me to join them.

I do not want to continue with the current employer as there are no benefits available. For example, I went on maternity leave for 3 months with no pay and no insurance. I just received a Rs. 25,000 check after I came back from 3 months of maternity, which is not even my 3 months' basic pay, which would be more than that. I do not have PF and other benefits.

Also, in my field, openings are only available from August till February, and this year, the openings are very few.

I cannot be at home without pay. My husband got laid off and is looking for a job. I am afraid that I will have to stick with them for the next year as well, which I do not want. Please suggest how to handle this situation.
pon1965
Discussing Notice Period Buy-Out with Prospective Employers

Talk to your prospective employers about the buy-out of the notice pay. If they are willing to reimburse the shortfall in the notice period, you can proceed.

Regards,
Pon
Dollyjack
Thanks for the response. Yes, I already did, but they are not ready for the buyout. Other companies are only ready for a buyout within 30 days, and that too if I can join them in 10 days. They are not willing to wait or accept a 90-day notice period. Because of this, I am missing out on many good offers.

Furthermore, I have noticed that my current employer does not provide relieving letters and final settlements until 6 months after I complete my notice period. This situation is making it impossible for me to join any other company promptly, which is very frustrating.

I am feeling quite confused. Should I consider absconding? I will need a relieving letter to join a new company, and I cannot afford to be without a salary for even a month due to my financial situation.

One option is to resign, serve my notice period, and start searching for jobs during my second month of notice. However, it may not be wise to leave my current job without any concrete job offers in hand. What if there are no job openings or offers at that time?

My situation is quite challenging, and I am unsure about how to proceed.

Thanks,
Dolly
RAINBOW1994
I feel you can give three months' basic pay in lieu of three months' notice. Please check your appointment order; it could be mentioned there—either three months' notice or three months' pay. This provision applies to both the employer and the employee.
Dollyjack
It's not basic; it's full pay mentioned there, but still, they are not ready to accept my request to leave early. They want me to work for a 3-month notice period. 
RAINBOW1994
Understanding Pay in Legal Terms

In legal terms, "pay" refers to basic pay. There is a ruling from the Supreme Court (SC) that allowances do not constitute pay.

Notice Period Clause in Appointment Orders

The clause regarding a three-month notice period in your appointment order—does it mention either side? The appointment order is like a contract where either party could terminate the contract with notice or in lieu of notice pay.

I feel consulting a lawyer will help.

Regards
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