[Resolved]  Torrent Power Limited — Heavy Penalty on Short Notice Period

Address:

Ahmedabad, Gujarat

I was serving for a public limited company for about 2 years and 8 months as an executive. As I got a good offer from another consulting firm hence i submitted my resignation to sanctioning officer stating my last date in the organization for a duration of a week saying i am ready to pay amount in lieu of my 3 months notice period. He refuse to accept my resignation with the last date and asked me to remove the same. so i removed the last date and put wording "as soon as possible with ready to pay amount in lieu of the notice period." and took his sign on the duplicate. I was having 2 months of notice period.

I waited for some days but my transfer of responsibility process didnot started so i wrote mail to start the same as soon as possible and still the same did not started. After some days i lef the company without serving the remaining notice period and later sent them mail that i will not come back to duties since i've joined another company. I also called my superior and HR for the final settlement and any payment from my side but they did not respond.

After 3 Months i again called the HR for final settlement and he asked me to come personally for the same. In my personal discussion with HR, he calcualted my Payable as about 85K (for my short notice period) and receivable (my Balance PL encashment, notice period salary and Bonus) as about 51K. so i told him that i am willing to pay difference i.e. 85 - 51 = 34K. HR did ask for the interest on the money @ 12% that i also agreed. but after that he is saying that there will be penalty also for the short notice and i have to pay 85K (gross salary of my short notice period without deducting my earning i.e. 51K) for the final settlement which is not agreeable in any case as i feel it is too excessive. I asked him to give me the detailed calculation for my final settlement in writting which he denied. so i also intimate him to give me the same through SMS and email but after a week still did not got the same. Even on the phone people are not talking nicely.

I have also asked for the resignation acceptance letter and Form 16 from company which they have not given me so far. In absence of my Form 16 i am also unable to file my income tax returns. They are not releasing these documents before the final settlement. My experience letter and relieving letter is also pending bcoz of final settlement.