Facing Unexpected Resignation: Can My Company Cut My Notice Period and Pay?

I am working as a Senior Manager in an India-based IT company. Due to a lack of project work coming to the team, I was asked to resign, and I did. I am ready to serve a two-month notice period as per my appointment letter clauses. Now, the company is asking me to serve only a one-month notice and is not willing to pay for the other month. I need money to run my household (it was a shock for me to resign, as I was not prepared for that) and time to search for a new job. The senior management is now threatening me with termination if I am not ready to shorten my notice period.

I seek advice on the below points:

1. Can they terminate me when I have already resigned and am ready to serve a two-month notice? I have not received any acceptance from them, and the resignation was sent via the official email ID to the Director, VPs, and HR head.

2. What legal actions can I take to protect my interests—avoid termination, payout deduction, relieving letter, etc.?

Thanks in advance.

Keep everything in writing, including a copy of your personal email ID. An employer cannot victimize the employee beyond their job. They need to pay you a two-month notice period. Fight back.

Thank you.