1. You cannot claim waiver of notice period neither you can evade the payment of notice period at your convenience. You have accepted the terms of your employment and signed the offer letter hence you are bound by the conditions and may be held liable for payment of notice period as per the terms and conditions of the employment.
2. Notice period is generally calculated on the basis of your monthly salary,
a)if a person gives only 20 days notice period then u have to calculate the remaining 10 days from the monthly salary that means u have to hold the 30 days salary. The calculation is monthly salary divide by 30 days or 31 days and once u get the per day salary then multiply with the short notice.
payment in luie of notice means Basic Wages + Dearness Allowance,
According to the new advance GST ruling for the employees, any employee that fails to serve the notice period will have to pay a recovery amount to the company on the differential period. And upon that recovery amount, the employee will be charged 18 percent GST by the company. Which is a standard charge for GST applicable on services.