Should I resign or let them terminate/layoff me?

Company asked me to resign from my job, if I resign I would be paid 3 month notice period salary + leave encashment,etc as my notice period is 90 days. I have severed in this company for 3 years now. Should I wait to let them terminate me or negotiate for atleast 2-3 months severance on top of 3 month NP salary and give resignation if they accept it?. As I don't have any job offer and they don't have any valid reason to terminate me too. I am uncertain how long would it take to get a job hence trying to get as good as possible compensation. My monthly salary is 25k per month.