If not able to serve notice period what action management will take against me

Dear All
Am working for one mechanical parts manufacturing company from last 4.7 year. Now I got good opportunity in good company. They given only two weeks time for joining. as per my present company I has to serve two month notice period. But actually not possible from my side. And I have more than 30 earn leave. Please suggest me how I can leave present company with out serve the notice period.

You can request for adjusting the earned leave in your credit against the notice period and you could pay salary for the remaining notice period after deducting the actual days of working since resignation. If you fail to serve the notice period, then your remaining salary could be held up, relieving order or experience certificate may not be issued, the company may terminate you from service instead of accepting the resignation etc

Speak frankly to your company.
Offer to exchange 30 days E/L and pay 15 days salary.
Deal with company in friendly manner and try to persuade them to accept the offer given by you.
It is now a matter of how you convince your present employer to relieve you, so that no trouble is created in giving your experience certificate and other dues.
You can even discreetly inform your new employer about the issues which can happen.

Dear Raghumn,
It is not good for you and your future to just abscond from the company. Also, as you have served for 4.7 years you are also entitled for other statutory benefits which you may face trouble while claiming the same in case of absconding. Please check you appointment letter and confirm the clause of notice pay as normally it says notice period or in lieu of notice period you can pay for as well. Thus better if you can buy back your notice period.

While accepting the job,detail information is written in Appointment letter.Notice pay is main point.It is either side,if you are unable to serve the notice period then you can pay in cash,It depends upon HR dept how it deals your case.
If request to release early,HR can consider.On natural justice ,you can be Relieved .

Dear friend,
Where there is notice period there is option to pay in lieu of notice. You discuss with the present HR and sought his solution in the matter. Similiarly discuss with the HR of new company, whether they consider you without relived and experience letter. This is the only way to go for.

Pls check company will deduct basic or gross based on that adjust leave if balance pay from your side so that you can get relieving and experience certificates