
Company terminating without notice or severance
I was working in a toxic environment, which should be a separate post, too long to explain here, tldr, I was put in pip, and then I resigned and put my notice, I like a responsible employee started finishing off my projects and tasks, giving KTs to other folks and junior. but now after this my company is saying ur lwd is 2 days from now, when in my contract notice is 2 months, HR says company has the right to waive off notice period without paying severance. What can I do currently, I don't have any job back up, so have to be unemployed for a while without any severance. Is this legally right from company sides, what possible things can I do currently?

They are only paying for days I have worked till today, but cutting short my notice period, Basically bringing my notice period from 2 months to 5 days

As far as I know you’re entitled to two months salary in lieu of notice period. Nothing can be done besides having a lawyer sending a legal notice I guess

Second this
But if they don't respond to a notice, you'll have to take it into litigation, such can be costly and long drawn out
Or you can name and shame on social media
Or approach your local labour department
~I'm a lawyer

Remember companies also do not like to get in legal cases

If your contract states a 2 month notice period they are legally liable to pay you for the notice period. However if you are still on probation or if there is a term around the notice period not being applicable in case of separation due to performance issues, then they might not be liable. They might also trick you into sending a resignation email in which case they could claim that you requested the separation and they are allowing you to leave without serving the notice period. I would suggest consulting a lawyer and deciding the next course of action based on that. In most cases a simple email from a lawyer is enough to get them to clear your dues. Most companies will not want to be involved in a litigation and labor laws are usually in favor of the employee. Don't be afraid, get good legal opinion and do not hesitate to take appropriate legal action. One must stand up for themselves! All the best!

They’re not even paying notice period salary?

I have had a friend of mine recently get laid off immediately. He was able to negotiate a 6months severance pay.
So the best option would be, to ask them to pay you the severance. If they deny, tell them you will explore legal options and recover the dues.
Also remember, the company cannot randomly put performance issues (it’s a common reason by HR). For it to be legally valid, there will need to be constant evidence of performance feedback given to you over email (which they will not have).
So, best option - tell them to pay severance for 3-5 months. If they deny, tell them you will explore legal options since the company cannot layoff immediately.

My company said you won't get arrears if you leave before they are paid out..... What to do

Most of the time a regular legal notice with informing of intent to litigate and the threat of complaint to labor board will make them more amenable. I think it would cost around 2k to send a drafted legal notice online.

Check your employment letter ,
Then check what's the clause regarding PIP , it may be an internal policy document and may not be in your offer letter as such.
Then talk to a lawyer once ( always remember lawyers will always want to take the case , so there is a conflict of interest )
Just do cost benefit analysis , it shouldn't cost more than you will benefit .
And also try to get the experience letter or relieving letter before sending any kind of notice , so that your future employment doesn't get complicated ...