In a weird situation – if I resign, I have to serve 3 mouths notice period. However, all companies in my area, including my current employer, requires new hires to join in less than a month. Soooo, how does it work?

Once you resign, standard employment terms, which one must sign at the time of joining, states that once your probation is over, if you wish to resign you have to serve 3 months notice period from the date of resignation. Else, there will be equivalent deduction from your final salary settlement for the number of days shortfall. However, all companies insist like crazy that you must join within a maximum of 30 days from the date of issue of offer letter. Else they threaten to withdraw the offer letter. So, one ends up paying a monetary penalty to move to a new job. Best part – barring very senior hire or hiring of Ivy League or equivalent alumni, the new company won't buy out the existing company's notice period. Views please.