No you can opt for the same

Dear Client,

The Buy-out depends on company policy, If there is a policy in your company then you cannot do anything. If there is not you can hire a lawyer and state your problem with them.

Notice period varies from company to company. Typically notice period is of 30 days to 60 days. In case an employee has to leave the job on an urgent basis due to his own reasons, early joining in the new job or any other reason, he has an option of notice buyout.

The company cannot deny waiving off for notice period if you are ready to pay the basic salary of leftover period.

The company cannot deny the relieving and experience letter.

You can send them a legal notice and file suit against them for mandatory injunction.

- As per Specific Relief Act, if any employee quits before the notice period, the Employer can only recover the Notice pay, and the Company cannot force to serve the entire notice period.

- Further, the resignation decision is the employee’s decision, and the employer cannot sue for breach of contract, if the employee leaves without serving contractual notice. 

- Except, recovery of the said amount, company cannot harm you for the same

- Further, no employer can refused to return the original certificates or to issue relieving letter .If they are doing so, their act is illegal, unjustified and against the fundamental rights of the employee.

- Further, the employment bond with the negative covenant is valid and legally enforceable, if the parties agree with their free consent i.e. without force, coercion, undue influence, misrepresentation and mistake, but it is not enforceable, if it is either one sided, unconscionable or unreasonable.

- Further, section 27 of the Indian Contract Act prohibits any agreement in restraint of trade and profession.

- Hence, pay for he three months notice period to the said employer and join the another company without any tension . 

You can contact me , if further suggestion needed. 

You may leave after serving one month of notice period, after offering them to buy out the remaining peirod.

If they still chase legally, ways can be worked out to defend, No worry!

It is at discretion of company to waive the notice period 

2) company would not give you reliving letter if you fail to serve the 3 months notice period 

Your current employer legally has the discretion whether to accept your forgoing of salary in lieu of the notice period or asking you to serve the notice period fully. The purpose is to enable the employer to make alternative arrangements. In the circumstances, you need to convince your new employer about your situation and gain more time for joining and also request your present employer to relieve you earlier. You have to act tactfully in this tricky situation. Good luck!