Retrenchment Notice Received: Can I Still Get Compensation if I Leave Early?

I have a doubt as follows:

I am about to receive the retrenchment notice from the company as the current project is shutting down. In the meeting with HR, I was informed that I will be entitled to receive retrenchment compensation from the company as my tenure is 4.6 years. However, in order to receive the compensation, I need to serve the notice period after receiving the retrenchment notice.

Question Regarding Retrenchment Compensation

So my question here is, once I receive the retrenchment notice from the company and decide to leave before my notice period ends, am I still eligible to receive retrenchment compensation? What do Indian labor laws say in this regard?

Thanks,

Regards

Understanding Retrenchment Under the Industrial Disputes Act, 1947

Please see the definition of the term 'retrenchment' under section 2(oo) of the Industrial Disputes Act, 1947. Retrenchment is the act of the employer terminating the employment of the worker for any reason other than disciplinary grounds. Any decision made by the employee to end their employment will not be considered retrenchment. Therefore, if you decide to leave the company before the notice period expires, you will not qualify for retrenchment compensation as per the issued retrenchment notice.