26 November 2012
My job offer letter has the following clause:
"Notice Period:
During the probationary period, either party can terminate the employment by giving one month's notice or one month's salary in lieu of notice, to the other party."
In the above case do I have the option to pay one month's salary at my own discretion and leave the company. Or do I compulsory need to serve one month's notice.
27 November 2012
Either one of the conditions have to be fulfilled. You can leave the job without giving notice and pay one month's salary as compensation.
27 November 2012
You have to fulfill any one condition, hence if you deposit your one month salary then you can leave the job. You need not to serve one month notice.
CAclubindia
