Early relieval from the company with 3 months notice
My company has 3 months notice period. I have sent termination notice agreeing to serve a notice period of 1 month for proper KT and paying the amount for the remaining two months of notice period. But they have refused the same.
The clause in the contract is
"Notice Period:Notwithstanding anything contained herein, the Company, in its sole discretion, may terminate your employment without cause by giving three months' notice in writing or payment of pro rata three months' Basic Salary, in lieu thereof. Likewise, you may resign from employment without cause by giving three months' notice in writing or by payment of pro rata three months' Basic Salary, in lieu thereof. In the event of your resignation, the Company in its sole discretion will have an option to accept the same and relieve you prior to the completion of the stipulated notice period of 3 months, without any pay in lieu of the notice period."
Can they refuse my resignation based on the above clause. My understanding is that the employer cannot hold me back if I am willing to pay the money. Can you let me know if I am right?