From the Bond it is to be seen whether the option of notice pay or work during notice period depends on the discretion of the employee or the employer.

If the discretion lies on employer then it can insist on service during notice period only.

However if you can dispense with the release letter then you can refuse to serve during the notice period and quit the join after sending money for 3 months time.

Yes, please try to negotiate with the management to buy back the notice period , otherwise they will not issue relieving letter or exp. letter which is very important for you, tell them to take only one month's salary.

Yes the agreement is valid in India as per agreement either you have to serve the notice period or you have to pay salary in lieu of same.

Hello,

Yes this does work in India. 

If you violate the same then this will be a breach of contract and the SRM college will have all the right to file a case against you for breach of the contract. 

Regards 

Bond condition is valid up to payment in lieu of notice period. 3 month notice period can be defaulted. You cannot be forced to work against your wish. You can leave without payment. IF they approach court than can pay. It is not necessary, college will go to court for recovery.

You are bound to give 3 months notice or pay salary in lieu of notice period 

If you break the bond they may file any suit for the same.  In India rarely someone goes in court for such issues.  You can take the risk

You should have informed the college when you got appointed for the post. You can either tell the college authorities to wait for 3 months while you finish the notice period or reach some kind of agreement with the current college regarding 3 months salary. Yes this agreement can be enforced. Or you can simply ignore the agreement and go ahead and join.

Regards 

1. You have already signed the employment contract wherein you have agreed to the term that you shall give three months notice of pay 3months salary in lieu thgere bof while submitting your resignation.

2. If you do not comply with the said terms the College might not issue you the release letter which you shall require for joining your new organisation.

3. It will be prudeent on your part to pay the 3 months salary if you can not give 3 months notice since the said terms is very much valid and acceptable in India. 

you have to comply your bond.

This is the condition to which you agreed while signing the employment offer letter.

You cannot agitate or refuse to comply with the said conditions as you have agreed  to the condition while taking up this employment.

This is not illegal and you cannot fight against this in any court of law since it will not be maintainable.

Yes, if the contract of employment stipulates three months' notice or salary in lieu of it, you are bound by it. The employer has the right to enforce the condition. However, you may request the employer to waive the condition. Please note in such a case, waiver is at the discretion of the employer, and you cannot demand it as a matter of right.

It is a valid clause as per law of contract .

Regards 

G.Rajaganapathy 

Lawyer 

High Court of Madras 

1. As per the information mentioned in the present query, makes it clear that this is the clause in the agreement on which you have already signed.
2. So, it would be difficult for you to not to comply with the condition of three months notice or three months salary as compensation.
3. Though it is also correct that the same agreement seems like only for the purpose to harass employees like you as just for year contract, three months condition is there.
4. If you wish then you can challenge the same agreement even after joining at new place, but take your legal remedies as soon as possible the moment you join at new place.