A notice period is the contractual runway on separation - commonly 30, 60 or 90 days in India - giving time for handover and backfill. An employer may allow a buyout (the employee or new employer pays for un-served notice) or a waiver. Notice terms materially affect how fast talent can move and how transitions are managed.
In India
Long 60–90 day notices are common in India, especially in IT - a frequent point of negotiation between candidate, current and future employer, sometimes settled via buyout.
In practice
An employee on a 90-day notice negotiates a 30-day buyout; the new employer reimburses 60 days' notice pay so they can join sooner - a common way to shorten the gap.