Time drifting when running a Linux guest under VMware ESX server, knows the way to solve time drifting problem easily.

The final working solution as of 27/03/2015:

NOTE: This method is now deprecated, correct settings in grub.conf and correct ntpd settings are all that is required for accurate time keeping. Please see:

https://www.vpsblocks.com.au/support/Knowledgebase/Article/View/71/0/solving-linux-time-drift

1. Uninstall or disable ntpd service

~# apt-get purge ntp -y

or

~# update-rc.d ntp disable

2. Create the directory /etc/clocksync if necessary

~# mkdir /etc/clocksync

3. Create script clocksyncsh as below:

#!/bin/bash
#######################################
# SIMPLE BASH SCRIPT TO CONTROL DRIFT
#######################################
# Copyright (c) Microsoft Corporation.
# All Rights Reserved.
#######################################
# Stop the NTP Daemon
if [ -f /etc/redhat-release ]
then
service ntpd stop >> /dev/null 2>&1
else
service ntp stop >> /dev/null 2>&1
fi
# Force Sync first time with NTP server, replace with custom one if required
ntpdate -s -b 0.au.pool.ntp.org
# ntpdate -s -b 0.au.pool.ntp.org
# Sync hw clock with System clock
hwclock --systohc
i=0
while true
do
# Keep Syncing system clock with h/w clock
hwclock --hctosys
# The time interval for which this script sleeps and force updates time
sleep 150
i=`expr $i + 1`
# Sync Hwclock against NTP after 60 sec
if [ "$i" -eq 4 ]; then
ntpdate -s -b 0.au.pool.ntp.org
hwclock --systohc
i=0
fi
done

4. Make the script executable

~# chmod +x /etc/clocksync/clocksync.sh

5. Edit /etc/rc.local as below:

...

# By default this script does nothing.

/etc/clocksync/clocksync.sh &

exit 0

6. Edit the /etc/default/grub file as below:

...

GRUB_CMDLINE_LINUX_DEFAULT="clock=pit notsc divider=10"

...

7. Update the grub.

~# update-grub

8. Reboot the system.

~# reboot