Want To Quit And Pay In Lieu Of 1 Mnt Notice Period But Employer Not Relieving

Hello

I want to quit my present job and don't have time to serve 1 month notice period also.

My contract says "In the event Employee terminates the Agreement, "Employer", at its option, may insist on performance of work during the notice period, waive the notice period in consideration of employee paying "Employer" an amount equal to Employee's base salary for the notice period or waive the notice period without any consideration."

I have forwarded my resignation letter and it was not accepted. HR after going through the clause says that they'll not exercise the option of payment in lieu of notice in this case because the company don't want to set a bad precedent. HR explanation is that if they allow me to buy notice period than next day other employee will also come and ask for the same. They have also threatened that in case of breach legal consequences will be taken against me, though there is arbitration clause.

1. Can an Employer force an Employee to work under his Organisation?

2. When there is an option of payment in lieu of notice, can "Employer" avoid this option?

3. What legal rights do I have?

5. What if I don't continue my job after serving a resignation letter stating that I am willing to compensate?

Enclo. Attached copy of Employment Agreement (Name changed)
2nd November 2012 From United States

Attached Files (Download Requires Membership)

EMPLOYEE CONTRACT.docx (14.0 KB, 1484 views)

The company ( "Employer", at its option, ) may insist you to serve notice period as the option is with your employer and not with you.
31st July 2013 From China, Beijing