What does this clause mean below:
Notice Period/Termination
(i) During the probation period, your employment with the Company may be terminated (i) by you, upon giving the Company three months' written notice or at the Company's discretion, payment of gross salary in lieu of notice or (ii) by the Company, upon giving you two months' written notice or payment of gross salary in lieu thereof.

I am still under probation and got a job offer from another company. How to reduce Notice Period.

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Posting as :
works at
You are currently posting as works at

The clause says, while in probation period, if you resign, then either you will serve 3 months' notice or pay 3 months' salary.
If company wants to remove you, then either your notice period will 2 months or you will be paid 2 months' salary.

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Depending on whether you or the company gave notice. Either you will pay to be let go of notice early or they will pay you.

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