Being forced to serve 60 days notice period otherwise buyout

Check your service agreements with company in order to ascertain the position. Otherwise, nothing wrong on part of company if such terms are in agreement. such service agreements and bonds furnished by employee are legal and are valid in law and are enforceable also. you have no option but to either serve the notice period or to buy the notice period. 

Dear Sir,

You mentioned you’re under a “consulting contract” but also referred to an employee handbook. The legal protection depends on whether your engagement is:

Employment (Contract of Service) → covered by labour laws such as the Shops & Establishments Act, Industrial Disputes Act, etc.

Consultancy (Contract for Service) → governed primarily by Indian Contract Act, 1872, and not by labour laws.

If the company controls your work hours, attendance, reporting, etc., you are an employee in substance, even if the agreement is titled “consulting contract.” Courts look at the actual nature of the relationship, not just the wording.

Dear Sir, as per your query,

We need to check and review your Consulting Contract/Agreement for the clause related to ‘Notice Period’. Only after that can our OLQ Team provide a detailed consultation to you. 

Feel free to contact our OLQ Team for a detailed discussion.