The contract of employment should be equitable.
Another point is, IT companies are under SE Act.
SE Act AP:
Max. notice period is one month. You may approach Inspector against company for violation of the provisions of the act.
State of Karnataka has ended the blanket exemption granted to IT companies from the provisions of IESO Act. All companies should frame certified standing orders in 6 months. Till then model standing orders shall apply.
You may check the status for your state.
Model Standing orders:
13. Termination of employment
.--(1) For terminating employment of a permanent workmen, notice in writing shall be given either by the employer or the workmen - one month’s notice in the case of monthly-rated workmen and two weeks’ notice in the case of other workmen: one month’s or two week’s pay, as the case may be, may be paid in lieu of notice.
Union for IT employees may help you:
The Indian Headquarters at Bangalore
Prithviraj Lekkad - President, UNITES Professionals India
Karthik Shekhar - General Secretary, UNITES Professionals India
#6/2, 1st Main, Next to Kodava Samaj, Vasanthnagar, Bangalore - 560 052
Phone: + 91 - 80 - 2235 5959 . 4123 5499
Email: contact@unitespro.org / unitesprofessionals@gmail.com
Bangalore
N R Hegde - Regional Director, UNIDOC Karnataka
#6/2, 1st Main, Next to Kodava Samaj, Vasanthnagar, Bangalore - 560 052
Phone: + 91 - 80 - 2235 5959 . 4123 5499
Email: unidocbangalore@gmail.com / nr.hegde@unitespro.org
Hyderabad
J S R Prasad - Director, UNIDOC India
UNI Development Organizing Centre, 1-1-776, SBI Colony, Gandhi Nagar, Hyderabad - 500 080
Phone: +91 - 40 - 27653300
Fax: +91 - 40 - 27672200
Email: unidoc@gmail.com / jsr.prasad@unitespro.org
If you are not handling any project you can handover the duties immediately.
The companies are wary of a situation when they won’t have an employee in the chair to perform a task which requires knowledge of how to run the machine of the company.
If possible you may refer some internal/external available candidate to company who may fill for you.
Valuable advice of learned experts/members is ought.