How Do I Calculate a Retainer Fee Structure? Urgent Help Needed!

Dear All,

Could anyone please let me know how to calculate the fee structure for a retainer? I need this information urgently.

Thank you in advance.

Shreya

Hi all,

Are there any retainers here who deal in training consultation in organizations?

Regards,
Shreya

I'm really sorry for being so unclear. Actually, I need to know if anyone can help me develop a fee structure for retainers who deal in soft skills training for organizations.

Regards,
Shreya Mishra

Hi, The major component can be under 'Professional Services Charges' and Rs. 800 per month under transportation charges. Also, ensure that you deduct all applicable taxes.

Regards,
Alpha

Understanding Retainers in the Workplace

Retainers are personnel retained after the age of 58 or 60 due to the non-availability of competent personnel in that particular post. Their salaries are fixed by the management, unlike other personnel working in a firm or factory. They are paid a normal salary as decided by the management with a deduction of TDS. They are not eligible for PF or Gratuity. They work like normal employees from 9 to 5 or whatever the timings are. If they are working in a factory, they follow the factory rules.

At times, retainers are appointed to avoid tax implications in the normal day-to-day working.

Regards

I would like to add the fact that nowadays, retainers could also be people who work for an organization, regardless of whether they are above 58-60 years old, and are paid a salary with tax deductions (TDS). This arrangement saves the company from contributing to PF and other benefits on the retainer's behalf.

Retirees are also entitled to gratuity upon completion of 5 years' continuous service as per the Gratuity Act.

Qadir Ahmad
Sr. Manager HR