Hi all,
I am Siva, and I work in the private sector. In my job offer, it was specified that if an employee wants to leave the organization, a 2-month notice is compulsory. Now, I have resigned from my job, and the notice I gave is 2 weeks. Could anybody help me with the following questions:
1) What will be the compensation I have to pay to my employer?
2) Is it a total of one month's salary I have to pay?
3) Do I only need to pay the basic salary for two months?
4) How should I handle this situation?
5) Is it compulsory to pay compensation even if I was on the bench?
6) What are the policies that come under the labor act for an employee exiting with short notice?
7) Are there any common policies under the labor act that every company needs to follow?
Thanks in advance. Sorry for the inconvenience.
Thanks and Regards,
Siva.
From India, Hyderabad
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I am Siva, and I work in the private sector. In my job offer, it was specified that if an employee wants to leave the organization, a 2-month notice is compulsory. Now, I have resigned from my job, and the notice I gave is 2 weeks. Could anybody help me with the following questions:
1) What will be the compensation I have to pay to my employer?
2) Is it a total of one month's salary I have to pay?
3) Do I only need to pay the basic salary for two months?
4) How should I handle this situation?
5) Is it compulsory to pay compensation even if I was on the bench?
6) What are the policies that come under the labor act for an employee exiting with short notice?
7) Are there any common policies under the labor act that every company needs to follow?
Thanks in advance. Sorry for the inconvenience.
Thanks and Regards,
Siva.
From India, Hyderabad
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Hi,
Here are your answers:
1) What will be the compensation I have to pay towards my employer?
Ref: Standing Orders of the organization & agreement you have signed at the time of your joining.
2) Is it a total one-month salary I have to pay?
Ref: Standing Orders of the organization & agreement you have signed at the time of your joining.
3) Only basic for two months do I have to pay?
Ref: Standing Orders of the organization & agreement you have signed at the time of your joining.
4) How do I need to handle the situation?
Please go through the standing orders of your organization in which the policies regarding the separation of the employee will be mentioned. Suppose the organization policy states that compensation needs to be paid, then it will be subject to your bargaining & persuasion with the management.
5) Is it compulsory that I have to pay compensation even if I was on the bench?
No idea.
6) What are the policies that come under the labor act for employee exit with short notice?
No idea.
7) Are there any common policies falling under the labor act that every company needs to follow?
Standing Orders Act 1946.
From India, Hyderabad
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Here are your answers:
1) What will be the compensation I have to pay towards my employer?
Ref: Standing Orders of the organization & agreement you have signed at the time of your joining.
2) Is it a total one-month salary I have to pay?
Ref: Standing Orders of the organization & agreement you have signed at the time of your joining.
3) Only basic for two months do I have to pay?
Ref: Standing Orders of the organization & agreement you have signed at the time of your joining.
4) How do I need to handle the situation?
Please go through the standing orders of your organization in which the policies regarding the separation of the employee will be mentioned. Suppose the organization policy states that compensation needs to be paid, then it will be subject to your bargaining & persuasion with the management.
5) Is it compulsory that I have to pay compensation even if I was on the bench?
No idea.
6) What are the policies that come under the labor act for employee exit with short notice?
No idea.
7) Are there any common policies falling under the labor act that every company needs to follow?
Standing Orders Act 1946.
From India, Hyderabad
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Hi Divaakar,
Thanks, I have gone through my order, and it was clearly stated as follows:
After confirmation of your employment, either party can terminate this employment by serving a notice of 2 months on the other, save and except that the company, at its option, can pay salary in lieu of the notice period.
Here is the confusion:
- It was not clearly specified which salary needs to be compensated. Is it BASIC, GROSS, or NET?
- What is the meaning of "on the other, save and except that the company at its option"?
- Can I ask management?
Please let me know if you need further assistance.
Thank you.
From India, Hyderabad
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Thanks, I have gone through my order, and it was clearly stated as follows:
After confirmation of your employment, either party can terminate this employment by serving a notice of 2 months on the other, save and except that the company, at its option, can pay salary in lieu of the notice period.
Here is the confusion:
- It was not clearly specified which salary needs to be compensated. Is it BASIC, GROSS, or NET?
- What is the meaning of "on the other, save and except that the company at its option"?
- Can I ask management?
Please let me know if you need further assistance.
Thank you.
From India, Hyderabad
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Salary means your gross earnings that appear in your salary sheet every month. You will have to pay back six weeks' salary that you would have received if you had worked with them. Also, on compassionate grounds, some companies adjust the dues against what you owe them.
Regards,
Nilendra
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18Regards,
Nilendra
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