Notice Period - Early Release
2 years ago
I have a notice period of 3 months but I have to join another company in 45 days. I am ready to serve 40-45 days of notice and pay the remaining or ask for an early release. I haven't brought up "buy out" option yet however have just asked for early release. My company is stating that they will let me know only once a replacement is hired and I have given my handover. However their hiring process is slow and I am doubtful about my release within 45 days.
What should I do? Should I talk about buy out?
Here's what is in my offer letter -
"this engagement may be terminated by either party by a prior written notice of 90 days. In computing the length of notice, all or any leave availed by you after giving notice shall be excluded."
There's no mention about buyout.
Modern-day employment contracts have an implied buy-out clause. The organization cannot force you to serve for the entire notice period if you are willing to exercise your buy-out option.
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Ayantika Mondal @ Prime Legal
Responded 2 years ago
Employment contracts govern the administration of notice period. In your case, it is of 90 days however your organisation cannot force you to serve the entire notice period if you are already willing to pay for the buyout. Buyout clauses although unmentioned are implied in modern day employment contracts.
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SHAIKH IRFAN KHAMAR SHAIKH
Responded 2 years ago
As per your submission it reveals that this is a matter of leaving job
However
As offer letter you can give notice prior to 90 days for leaving
And can request for releaving letter and experience letter
Advocate IRFAN SHAIKH
Buy out is implied in every employment contract. You may leave before 90 days but you have to suffer a little. Wisely manage both employees.
Ankur Goel @ Complete Law Shield
Responded 2 years ago
Need help in securing my stake that was promised verbally
Seeking Legal Advice Regarding Employment Issue
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