retainership fees
This query is : Resolved
18 September 2009
can u suggest me what is concept of retainership fees ( special in case of professional fees of company secretory)?
Ram Avtar Singh
(Expert)
18 September 2009
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.
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.
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