3 Month Notice Period As Per My Contract

Hi,
Need some help.. in my employment contract under the notice period section, it is a 3 month notice period or the equivalent of salary and fixed allowances if any.
Will you please explain the following:
1. whether is it the full amount of gross salary per month or only the basic salary?
2. Also if I just give one month's notice to the company, then I have to pay the for the deficit notice period?
3. If the other company wants to buy me out, then will it have any financial implications on me?

Hello Cite'r
It a good blog to ask these relevant questions and being from the H.R Faternity it is a great place to share and brainstorm a lot of H.R Aspects and new trends
1 & 2. Your basic salary for three months , but i guess its good to serve a months notice to maintain healthy relationships
2. The other company wants you to buy out , you could give them a option of making the check to your current organisation post checking the
amount with the Full and Final Department
3. This will help your smooth trasistioning to another organisation
Good Luc For your new assignment
regards
Milan Thakkar

Many thanks to you, Milan for your valuable response. I guess, it will be better to serve the one month's notice and leave the company on good terms.

1. whether is it the full amount of gross salary per month or only the basic salary?

Zat only ur company can answer,, some take full gross, some may take basic...

2. Also if I just give one month's notice to the company, then I have to pay the for the deficit notice period?

zat also only ur company can answer,,, some take 1 month notice 2 month pay, some take 0 month notice, 3 month pay, some take 3 month notice and dont accept pay for releiving early,,

3. If the other company wants to buy me out, then will it have any financial implications on me?

it depends if ur company accepts pay and releives early...

the heck why i am telling that is that in our company we recruited a person from other company, even though our company was ready to pay the notic e period money of the other employee , but the other company had policy that they dont releive before thrreee months and nethier do they accept money...

so the answer lies in ur question, and whats the prob in asking ur company people if u hav decided 2 quit..

oops i did not read ur post karefully,,
u hav just recd the contract,, better not think of resigining at such early stage..... :wink: :wink: :wink:
next time when u get opportunity think and take decision,, for time being u can hav information that the releiving policices depends on comp to comp..

here's the simple way out, ask the new company if they are comfortable if you join them after 3 months. If not, look for some other company. I am not sure it is of any value in you bearing the financial load of this transition.

hi i m working in I.T co. when i m join that time notice period is 1 month & now co. change the notice period 3 months.& co. not give any alternet solutions (BUY OUT option) i m ready to buy out.but co. say u serve the 3 month notice period.
Please give me the solution ASAP ............

if any organization have more 150 worker please tell
me
01. Notice period applicable one month or two month
02. In the appointment letter only one month notice no any other mantioned compensation on termination