Waiver-off of Notice period and non-payment of salary

Hello, I am working for an NGO for past 2 years (since 2014). Until June-2016, salaries were given. By July-2016 end, an e-mail was sent to all employees stating that July salaries will released late in August. However, in August another telephonic announcement was made stating that NGO is high & dry and no salaries can be paid until Jan-2017. They are expecting employees to work without salaried for 6 months! Many employees were expecting that some 'miracle' will happen and the salaries will be given. But it is 2 months now that no salaries are given and when contacted the trustee they are giving only one reply: NO MONEY! No salary can be given. Many employees are still working for the fear that if they leave suddenly, as per the contract they have not served the notice period and hence their salaries will be considered lieu. Is there not a law which will help employees like us? If the company is unable to pay salary, is it still mandatory to serve the notice period? How can one survive without pay? Is it not possible to resign without serving the notice period if the company is not paying salaries? Can not the notice period waiver-off if the salaries are not paid? Is the company not liable to pay the dues? Please suggest, can a employee not resign without serving the notice period, if the salaries are not paid? Many thanks in advance.