Serving Short Notice

My current employment require their employees to tender 3 months notice period. Since I need to leave my current company in 1 month time, I am willing to pay the salary in lieu for the remaining months that I don't served. However, my current company rejects this and insists that I serve the 3 months notice. Is there anything I can do?

In all letter of appointment, the employee or employer can serve X period of notice period or salary in lieu of notice for termination or resignation.

If you willing to pay the salary in lieu of notice for the full period of notice that you failed to serve, the company cannot retain you.

You may highlight to your HR department or subsequently raise your concern to MOM if necessary.