Stuck in a Notice Period Dilemma: How to Handle a Company Refusing Early Release?

I work in a private Ltd company and have been with this firm for the last 5.5 years. As per my appointment letter, I have a notice period of 3 months. I recently received an offer from a new firm that wants me to join within 45 days. However, I requested a 90-day notice period which they did not accept. They are also not agreeing to an early release.

I am willing to work the 45 days of the notice period and I also have 30 days of paid leave. I have informed my boss that I will work for 45 days and take 30 days of leave, totaling 75 days. This leaves only 15 days remaining, for which I am prepared to pay as per company policy. Unfortunately, they are not agreeing to this arrangement. I am unsure of the best course of action in this situation.

Moreover, leaving without a relieving letter after the 45-day notice period may have negative implications for my future career. I am also concerned about the possibility of my gratuity and final settlement being held by the company. I would appreciate any advice on how to proceed.

In this situation, it's crucial to handle the matter professionally and ensure a smooth transition. Here are some practical steps you can take:

1. Review Company Policies: Carefully go through your employment contract and company policies regarding notice periods, early releases, and settlements to understand your rights and obligations.

2. Open Communication: Have a candid discussion with your HR department or higher management to explain your situation and willingness to comply with company policies while requesting flexibility in your notice period.

3. Negotiation: Try to negotiate a mutually acceptable solution that benefits both parties. Offer to pay for the remaining days as per company policy and emphasize your commitment to a smooth handover.

4. Seek Legal Advice: If the company continues to refuse your request and you believe your rights are being violated, consider seeking legal advice to understand your legal options and protect your interests.

5. Document Everything: Keep records of all communications, agreements, and discussions with the company regarding your notice period and early release request to safeguard yourself in case of any disputes in the future.

6. Prepare for Transition: Regardless of the outcome, start preparing for your transition to the new firm by organizing your work, completing pending tasks, and ensuring a proper handover of responsibilities to minimize any negative impact on your career.

7. Gratuity and Settlement: If concerns about gratuity and final settlement arise, ensure that you have a clear understanding of the company's policies and procedures in these matters. Seek clarification from HR if needed to avoid any delays or misunderstandings.

By approaching the situation professionally, maintaining open communication, and being prepared for all possible outcomes, you can navigate this challenging period effectively and protect your interests.