Best approach to fetch data from wp options to js file or php file

Assuming you’re not using AJAX for form submission, you can use wp_localize_script(). Here’s a simplified version:

In your plugin file:

function wpse105919_add_scripts(){
  wp_enqueue_script( 'myjs', plugins_url( '/myjs.js', __FILE__ ) );
  wp_localize_script( 'myjs', 'jsLocalizedObject', 'hello world');
}
add_action('wp_enqueue_scripts', 'wpse105919_add_scripts');

contents of myjs.js file:

alert( jsLocalizedObject );

wp_localize_script() will add a global variable called jsLocalizedObject to your document’s <head>. IF you view the source of your page, you’ll see something like:

<script type="text/javascript">
/* <![CDATA[ */
var jsLocalizedObject = "hello world";
/* ]]> */
</script>

To get a value from your wp_options table, you can use get_option() and then pass the result instead of the hello world in the wp_localize_script function.

Your code would then look like:

function wpse105919_add_scripts(){
  wp_enqueue_script( 'myjs', plugins_url( '/myjs.js', __FILE__ ) );
  $myoption = get_option('option_name', 'default_value');
  wp_localize_script( 'myjs', 'jsLocalizedObject', $myoption);
}
add_action('wp_enqueue_scripts', 'wpse105919_add_scripts');

and your jQuery part:

jQuery('.notice_container').wrap(<'div id="custom_notice"><span>' + jsLocalizedObject + '</span></div>')

Note that you should use admin_enqueue_script instead if your JS should load in the dashboard.