Employee Retainership and Benefits
If a highly skilled employee, such as a Chartered Accountant (CA), working in an organization on a full-time basis and availing all prevalent benefits, wants to practice his profession on a retainership basis (e.g., a CA who wants to work for the company not on the rolls but on a retainership basis), can he be provided with other benefits of the company simultaneously, like leaves, tour slabs, etc., or should the benefits availed by him be withdrawn in such a case?
Proceeding with Retainership
In such a case, how should one proceed? For instance, the salary would be ceased, and he would be provided with consultation fees. Is any deed required to be done with him, and if yes, what should be the proforma of such a deed?
Regards
From India, Jalandhar
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12If a highly skilled employee, such as a Chartered Accountant (CA), working in an organization on a full-time basis and availing all prevalent benefits, wants to practice his profession on a retainership basis (e.g., a CA who wants to work for the company not on the rolls but on a retainership basis), can he be provided with other benefits of the company simultaneously, like leaves, tour slabs, etc., or should the benefits availed by him be withdrawn in such a case?
Proceeding with Retainership
In such a case, how should one proceed? For instance, the salary would be ceased, and he would be provided with consultation fees. Is any deed required to be done with him, and if yes, what should be the proforma of such a deed?
Regards
From India, Jalandhar
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On retainership, your status would be that of a consultant, and you would be liable to produce a bill for the consultation on a monthly basis. Your company will deduct TDS for the professional services rendered; I believe you might be well aware of this. Normally, benefits such as leaves, travel allowances, and others are not available. Your company may allow for reimbursement on a case-by-case basis.
Agreement Requirements
You are correct that an agreement would be required, comprising the following facts:
1. Term
2. Consultation fees
3. Methods of payment/invoicing/TDS, among others
4. Scope of services
5. Termination of contract
6. Miscellaneous clauses/renewal terms
Thank you.
From India, Jaipur
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Agreement Requirements
You are correct that an agreement would be required, comprising the following facts:
1. Term
2. Consultation fees
3. Methods of payment/invoicing/TDS, among others
4. Scope of services
5. Termination of contract
6. Miscellaneous clauses/renewal terms
Thank you.
From India, Jaipur
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