Notice period policy
What is the notice period as per the current policy? What is the notice period as mentioned in the appointment orders issued to existing employees? The same should be continued unless a notice under Section 9A of the Industrial Disputes Act is issued.
The law does not recognize a notice period for employees who do not have any supervisory or managerial roles. At the same time, the employer cannot terminate an employee without giving them a notice of at least one month. Though the notice required to terminate an employee of a factory where 100 or more workers are employed is three months, we may take it that for an establishment like IT, the same will not apply. But one month's notice from the employer's side is a legal obligation.
Notice period for employees
Coming to the notice from the employees, therefore, it should not be more than one month under any circumstance. As already pointed out, in respect of employees like techies who are covered by the ID Act, no notice period will apply from their side. But even if we take a defense that the techies are skilled persons who can understand the terms of the contract of employment, and as such they had agreed to the condition relating to the notice period at the time of joining, it shall not exceed one month, the notice that an employer is legally bound to give if they want to retrench or otherwise terminate an employee.
Notice period for managers
In respect of managers who have managerial rights, certainly, you can have a three-month or even more notice period as you like.