2 years contract- But do not want to work here anymore. Can i go back?

Is this job your first in KSA with the first sponsor or were you hired locally.

If this is the first job, then you need to respect the contract terms and then only employer will let you go as per law, if not you may have to pay penalty or amount as specified in the contract or as requested by sponsor.

The only way you can leave without any penalty is for employer to terminate you on grounds of not capable of performing your job.

For such situations , can't we just submit resignation and serve till the notice period ends and then leave legally, and without penalty.

its my first job. direct recruitment from india. ok thank you for ur information

No we cant

Just do irregular job, do mistakes, be absent, keep sitting quiet at working time, late on duty,,,,,bla bla bla (except fighting). They will terminate you immediately.

that advice is good, but i dont think they will terminate me before the contract period. i just dont receive the salary for late coming and absent. they will deduct the salary . month end zero.

Wouldn't advise doing that either as you will need a reference for a future job elsewhere.