Dear Believer1,
Abandonment of employment has ramifications beyond the payment of gratuity as well. After serving for five years, it is advisable to obtain an unblemished service-cum-employment certificate. If you abandon your employment, your company may be compelled to terminate your services. What if the company states the actual reason for your separation in the service-cum-employment certificate? Such a certificate could create difficulties in securing future jobs.
The middle ground is to submit your resignation and have a smooth exit. Simultaneously, begin searching for a new job. A situation may arise where you might be without a job for a few weeks or even months. There is nothing inherently wrong with this. You can provide some explanation for the gap in employment. Although this approach also carries risks, it is less risky compared to your initial plan.
Please be aware that in the future, when applying for positions like VP or Director, you may be required to provide employment details for all previous jobs. In this context, if your current company confirms that you abandoned your services, your candidacy could be rejected. Therefore, do not compromise between short-term and long-term gains.
All the best!
Dinesh Divekar