The observations of Mr.Madhu juxtaposing the legal consequences of the breach of the contract of employment by the employee and the practicality of taking disciplinary action against such an unwilling employee is worthy of deep consideration.
Queries relating to refusal by employers to accept the buy-out offer of resigning employees are very frequent in this forum. Though the buy-out option regularly finds place in the exit clause of the contract of employment, always it is qualified with the employer's sole discretion for its acceptance whereas no such restriction while the employer terminates the employee with notice pay in lieu of prior notice. To me, such a discretionary prerogative to the employer perhaps on the ground of work exigencies renders the exit clause totally one-sided for at times there may be situational exigencies compelling the employee to leave the organization immediately by exercising his buy-out option. If credence to situational urgency is the deciding factor, I would insist that it should be given in equal measure to both the employer and the employee for it is indisputable that no employee would like to leave a good organization nor an employer would like to lose an ideal employee.
Therefore, instead of ruthless application of his discretionary power in the acceptance of buy-out offer of an exiting employee, the employer should try to ponder over the genuine reasons for the sudden exit and if they are valid to the extent that the possible retention measures are beyond his capacity, of course, the employer should make the separation formal and peaceful by accepting the buy-out offer of the employee.
Similarly, while switching jobs, the exiting employee should also be very conscious about his contractual obligation to serve the full notice period and be qually cautious about the current employer's mood as well as genuine employment requirement to accept the buy-out option without any hassles and then accept the offer of the prospective employer.
The ground reality, in my opinion in the matter of resignation, therefore, is that if both the parties to the contract of employment have the realization that free will is the basis of paid employment and the unilateral termination of the employment contract is subject to the exit clause which is fair in all respects, there could be no ruckus in the matter of separation while resignation and afterwards as well.