Is there notice period buyout in TCS?

The standard duration of the notice period in TCS is 90 days. However, you have an option of buying out the notice period in which you would need to pay an amount equivalent to the basic salary of the number of days you will be buying out.

How does notice period buyout work?

In case an employee has to leave the job on an urgent basis due to studies, early joining in the new job or any other reason, he has an option of notice buyout. The employee has to make payment for the notice period not served and this money is reimbursed by the new employer if he is joining somewhere.

Can employee buy out notice period?

Your employment will be governed under the frame work of your employment contract. Since the contract states and provides for buy out of the notice period, you have the right to exercise this option.

How do you negotiate a buyout from your employer?

Find out what type of buyout package the company has offered in the past. Ask co-workers what they have been offered. Compare this with what you are being offered. If you are being offered less than others have received, tell your employer that you are not willing to accept less than your co-workers.

What if company is not relieving you before notice period?

~If you have completed your notice and still not getting relieving letter from the current employer in-spite of requesting them you are allowed to sue the company if at all you have the offer/appointment letter with you and a proof of the notice period served .

How can I shorten my notice period in TCS?

The standard duration of the notice period in TCS is 90 days. However, you have an option of buying out the notice period in which you would need to pay an amount equivalent to the basic salary of the number of days you will be buying out. Having said that, to shorten your notice period, you would need to take the approval of your Lead and Manager.

Can I buy out TCS time period in a contract?

Yes you can buy out the TCS time period in certain circumstances. First of all I advise you to look into the contract that you have entered into with your company. Read the same slowly and read is many times. Interpret each word and notice all commas, hyphens etc that may be embodies therein.

Is there a notice period for buying out of a company?

Answer to your question is Yes. Notice period is in place to provide continuity to business. This is dedicated for transition of another person into your role. Things that comes in picture while buying notice period: First, In the process of buying out, try to remain positive all the time. Once ego comes in the picture, thing will be worse.

Can a company force you to serve the full notice period?

1) There is no way that the company can force you to serve the full notice period. 2) The clause in the employment agreement usually states “ninety days’ written notice or three (3) months’ gross salary in lieu thereof”. Therefore if you are willing to pay the company should not raise any objections.