Notice Period Of 60 Days

Dear All,
I am working in a company having 100 employees in India, In october thay have increased my salary by 10% but they have also increased my notice period from 30 days to 60 days ...
Now I want to leave this company in April to get good growth and prospects, I am working in this company since last 2 years.
Please let us know If I wanted to leave this company without serving notice period of 60 dayswhat action can the company take on me???
If I leave without serving notice period , m I liable for any financial penanlty?? I have PL of around 40 days to take...
Please guide me in this regards....
Thanks
Naren

It means you have accepted the increment along with increase in NP. Is itn't?
Once accepted, you are bound by the revised conditions. Only you can request them to adjust the accumulated PLs for the shortfall in NP if you want to leave early. If they don't accept, you have to serve the full NP. Leaving without proper relieving letter and F/F settlement may take you into trouble with the new employer.
Pon, Chennai

Hello Senior
I'm not sure but according to Payment of Wages Act (Rule-16 [2] ):
No deduction for breach of contract shall be made from the wages of the
employed person unless:-
(a) there is provision in writing forming part of the terms of the contract of
employment requiring him to give notice of the termination of his
employment; and
(i) the period of his notice does not exceed fifteen days or the wage
period whichever is less; and
(ii) the period of this notice does not exceed the period of notice which
the employer is required to give of the termination of that
employment;
(b) this rule has been displayed in English and in the language of the
majority of the employed persons at or near the main entrance of the
factory and has been so displayed for not less than one month before
the commencement of the absence in respect of which the deduction
is made;
Regard
Abhishek Singh