'Retainer" is basically a person who is available to you for advise . He is not required to put in daily attendance or observe any fixed working hours. He charges a retainership fee for his services. In case, he is required to come and put in attendance or appear on your behalf befor any authority/court etc, he charges you separately for such services. This however, depends upon the terms of his/her engagement as a 'Retainer'
In my previous employments I had engaged retainers as advocates/income tax advisors.
In case of employment on contractual terms, the incumbent is required to physically put in attendance as per the terms of the contract.
The basic difference, in my opinion is, while in the case of retainership, the availibility of person for advise is ensured, in the latter case his physical presence for dicharging the duties is necessary.
We can hear views of others.
yes...in my previous company i was getting retainership fees as salary...
but the company treated me as a regular employee up to 10 months.
i was a fresher at that time...& the retainersheep fees was not charged by me,..it was decided by the company...it was not allowed to me to take a single leave also by saying that i'm on probationary period..in offer letter also they mentioned that i'm on retainersheep basis.
What ever is mentioned here it was totally opposite about me..
Retainership contract is one in which the empolyees are hired on retainership contract ,wherein statutory compliances of employment like PF,ESIC, Bonus,Gratuity ,etc are not applicable to the individuals.the working hours ,monthly charges ,and other benefits (if required) can be given depending upon mutual understanding and contract letter between the company and the individual ,there will be no Master and servant relationship in such contract .
In contractual letter , contractual period is been mentioned along with other terms and conditions of appointment.
if a contractual relatinship is been made between a contractor and the firm, then it becomes the responsibility of the employer to see that whichever workmen comes in his firm ,his/her PF,ESIC, and other benefits are provided to him/her or else it becomes liabilities of the firm to bear the cost.
firstly you cannot terminate an employee due to lack (less) work in a company.However if you really want to close certain department due to lack of work then you have to inform the labour commisioner about the same stating that due to lack of work we are retrenching so many employees from work,wherein you have to pay them retrenchment compensation (calculated similar to Gratuity) and all the legal dues .
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Topic Categories >> income tax contract employment compensation terms and conditions pf act working hours statutory compliances terminating an employee termination policy offer letter Location-India
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