Public Sector Bank Employees: Do You Really Need to Pay 3-Month Salary if You Can't Serve Notice?

Sir/Madam, is any confirmed public sector bank employee required to pay a 3-month salary to the bank if they are unable to serve a 3-month notice period before resigning? There is no mention of depositing money to the bank in the service rules for confirmed employees.

The provision for the buy-out of the notice period, in cases where the employee is unable to serve the notice period, can be interpreted from the basic premise of the Contract Act 1872 regarding compensation for breach of the agreement.