Termination - company liable to pay him 2 months salary or until the last termination day?

The notice period in my company is 2 months; we are registered under the Goa, Daman & Diu Shop & Establishment act.
My question is if an employee is terminated with immediate effect, then is the company liable to pay him 2 months salary or until the last termination day?

If your appointment letters covers 02 months notice period from employee side In case of resignation then yes you need to pay 02 months notice period to employee subject to termination is on valid grounds.

So the notice pay would be would be 2 months in case of termination, correct?

Yes either the Notice Period Employment with Wages Or
Pay in lieu thereof in case relieved with Immediate effect, in accordance ith Terms of Employment applicable to the Establishment
Kritarth Team
13.10.18

Thank you Prashant & Kritarth.