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Definition: a Resignation is the formal act of quitting or leaving one's job, position or office. In other words, it is the act of telling your employer that you are leaving your job.
It is also the written statement or letter in which you state that you are doing this.

A resignation is possible when a person holding a job or position gained by election or appointment steps down, but leaving a job or position upon the expiration of a term is not considered resignation.

When an employee chooses to leave a position, it is considered a resignation, as opposed to involuntary termination.