What is Buy Out Policy?
TCS notice period buyout
TCS notice period buyout is possible so as to move on from the company at the earliest you wish without serving the notice period. For a successful buyout plan to work, you should have good balance with your seniors in specifically with your manager, you should be able to convince them for a buyout in a positive way and make sure not to be negative in any way to the company, no dependency on you in the project makes the way more easy, immediate backup of you available etc. TCS has increased its notice period to 90 days from 30 days making many employees to choose buyout option.
Buy out policy
Buy out policyis the contract details between the employee and the employer wherein all the details regarding the buyout option are included. Buyout policies varies from company to company and even in a company there are chances that the buyout option may not be the same for every employee and depends on the designation, years of experience, years of working with the company and many similar as such. An individual is held responsible to clear the dues with the past company before leaving with buyout option to the new company so as to avoid any further concerns with either parts.
Buyout option in TCS starts with a talk to your manager followed by an official email dropped to your HR and your management. Then starts the notice period and talk to your HR to finalize on the bond amount and the period for which you wish to serve. With all the documents like payslips, certificates, letter of appreciations etc taken and made available with you even in later cases, wait for and check the resignation acceptance mail as it contains all the documents. With that you are done after submitting all office valuables to further join your new company.
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