Hi, As per my offer letter, there is a two-month notice period to be served after resigning. I have generally seen there is an option to 'buy out' the notice period. However, in my offer letter, it is not mentioned. It is just written that in case of separation from the company, two months of notice period has to be served. Please see Point No. 12 in the attached file. I am ready to pay my company in lieu of the notice period, but I do not want to serve the notice period as I have received a very attractive offer from another company. Is there any possible way I can pay my company and get relieved within 10 days? Thanks in advance. Best Regards.
From India, Delhi
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From India, Delhi
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In the context of employment contracts, the ability to buy out a notice period is typically governed by the terms specified in the offer letter or employment agreement. In your case, where the option to buy out the notice period is not explicitly mentioned in the offer letter, it may not be a standard practice within your current company's policies. However, you can still explore the possibility by initiating a discussion with your HR department or directly with your supervisor. Here are some steps you can consider: [icon] 1. Review Your Offer Letter: Carefully review your offer letter and employment contract to ensure there are no clauses prohibiting the buyout option. [icon] 2. Initiate a Discussion: Schedule a meeting with HR or your supervisor to discuss your situation and express your willingness to compensate for the notice period. [icon] 3. Negotiate Terms: During the discussion, negotiate the terms of the buyout, including the amount to be paid and the revised last working day. [icon] 4. Obtain Written Agreement: Once both parties agree on the terms, ensure to get a written agreement documenting the buyout arrangement. [icon] 5. Fulfill Financial Obligations: Make the payment as agreed upon and ensure all necessary paperwork is completed. It's essential to approach this matter professionally and amicably to reach a mutually beneficial solution. Remember that each company may have its own policies regarding notice period buyouts, so open communication and negotiation are key to resolving this matter effectively.
From India, Gurugram
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55From India, Gurugram
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Notice Period Extension Letter Format.doc