Do not want to serve notice

Propose to leave the company by paying two months notice period.  If the company accepts it will be over now itself.  Otherwise, it will ask you to serve as many days of notice period as it wants.  If you have paid the amounts of notice period, you are eligible to receive back the amounts proportionate to the no. of days work you have put in during the notice period. 

Company can ask you to serve notice period of maximum two months only not beyond that.  You have given notice on 29-6-2012 and the company is asking you to work for two months since 20-7-2012 it is not valid proposal under the terms of conditions enumerated above.  "if the management desired the empolyee to continue during notice period, the employee shall do so." ...... is meant for those who want to quit by paying amount of two months notice period. 

Lets say i really do not want to continue and would like to exit form company at all cost.

Can i challange the managements decision, where they ask me to stick to company and i insist to leave the company by paying 2 months basic.

The clause given above is not a clear statement.

Or are we bound to work, if management decides ?

Regards.

Mr. Chandrasekhar has given valuable advice. Kindly follow it.

The appointment letter should promote equality. The terms and conditions as expressed in your appointment letter are heavily weighed towards employer as employer can terminate the contract even before expiry of notice period and can decline to accept notice pay in lieu of shortfall in notice period.

Then as mentioned in this thread, your employer is ordering you to remain on board even after the expiry of notice period, by extending the notice period by another one month.

Employee should avoid abrupt termination until or unless there is some exigency and should explain the exigency in notice of resignation. The purpose of notice period is to grant time to employee to firm up his/her next venture and to employer to find replacement, complete the exit process and relieve the employee. There are companies which charge the employee for having caused them loss due to abrupt termination.

You may tender reasonable notice and express your effective date of resignation/last day in office in the notice and if you feel you can mention the fitting and suitable reason of separation. You may offer to adjust notice pay in FNF statement. If your next employer is buying out the notice period, you may avoid payment of notice pay to first employer by cash, cheque as you may suffer double taxation. Let your first employer reduce your amount of FNF settlement by adjusting notice pay.

You have posted that “I am currently working in HCL and have decided to leave the company now as my mangers have started surrounding me and giving me hard time.”

Employee should endeavor to remain amiable and maintain decorum. However, if the line management steps on the toes of employee should gather evidence and prove the bad conduct e.g. audio/visual/witnesses, which if required can be produced at appropriate time in appropriate forum.

Employee has the discretion of reporting the incidences to good office of appointing authority, MD, Company Secretary, with a copy to Head-HR. If the evidence is on the employee’s side, company shall be on weak foot. Companies are known to coerce and transfer the onus on employee and create a situation where employee ends up either suffering loss or falling in litigation. Be smart.

You are not bound by anything but you will be troubled later by not giving your terminal benefits, transfer of PF account, relieving order, experience letter etc if you leave dissatisfying them.  Company asks you work even if you pay two months notice period amount because it may have some pending tasks left by you, which it cannot complete unless it finds a new employee.  So till it finds a new employee or fills in your position from its rank and file, it will engage your services.  For that purpose it will ask you to stay on in the job for as many days as it takes to fulfill its requirement.  It may take 2 days or one week or one month but it will not make you wait beyond two months.  So in a way purchasing the notice period is dependent on this clause.  If you paid two months notice period and company utilized your services for one month during notice period, it will return one month salary to you. 

Thanks for valuable feedback.

I guess i would have to say in there, i have no pending charges, do not owe them any money.