Retrenchment Benefits

Hi,
I have a doubt as follows,
I am about to get the retrenchment notice from the company as current project is shutting down. In the meeting with HR, HR said I will be entitled to get the retrenchment compensation from the company as my tenure is 4.6 years, but in order to get the compensation, I need to serve the notice period after getting the retrenchment notice.
So my question here is, once I get the retrenchment notice from the company and I decides to to leave the company before my notice period ends, then am I eligible to get the retrenchment compensation? What the Indian labor laws says in this regards?
Thanks,

Pl. see the definition of the term ' retrenchment ' u/s 2 (oo) of the Industrial Disputes Act,1947. It is the act of the employer terminating the employment of the workman for whatever reason other than on disciplinary grounds. Any initiative taken by the employee himself to terminate his employment will not amount to retrenchment. So if you leave the company on your own accord before the expiry of the notice period, you will not be eligible for retrenchment compensation as per the retrenchment notice already issued.