Buy out - even when i am ready to serve notice

You may check the terms of termination of service in your appointment letter and act accordingly.

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Dear Reader,

The determination of whether a buy-out payment applies is derived from the terms of the employment contract. Section 27 of the Indian Contract Act, of 1872 lays down that the covenants in restraint of trade or to protect a trade should not, either directly or indirectly be so remote as to be deemed unreasonable.
Sunil Kumar Jain v. National Aviation Co. of India Ltd., here the courts held that in case the contract contains any ambiguous and vague terms, it should go with the benefit of the employee. If your contract does not clearly state whether the buyout amount should be gross or basic salary, you may argue that such ambiguity cannot be working against you but in your favor. You also tried communicating with your manager and were willing to serve your notice, this intent may become yet another reason for them. You should ask for a formal, in-writing explanation from HR. If the problem persists, then you should consult a labor law attorney who can guide you better on your available options.

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