Hi Dear all, I want format of retainership contract and wants to know what will be taxation element in this type of agreement .
From India, Ulhasnagar
From India, Ulhasnagar
Dear,
The retainee will raise the invoice to your company/firm, which will include service tax (the retainee will have to get her/him self registered for service tax under appropriate head eg. professional consultant). Once the invoice is raised by the retainee, the company/firm would make the pament as per agreed terms, subject to deduction of TDS.
A typical agreement could be as under:
Dear .....,
We are pleased to appoint you as a professional consultant/advisor on retainership basis from dd/mm/yyyy.
The following are the terms and conditions:
a) The retainership shall be from dd/mm/yy to dd/mm/yy. It will automatically expire on dd/mm/yy unless extended in writing. During the retainership period, either side can terminate the agreement by giving ... months notice or retaineship charges for the notice perios, without assigning any reasons.
b) You shall interact with Mrs/Miss/Mr....... of our company during your retainership for all decisions/queries.
c) you shall be given....no pf persons for your assignment.
d) Your assignment shall be as follows......
e) Your retainership fees would be Rs...... per month. You would raise inoice on .....th of every month. Your invoice will become payable by....pf every month. You may levy service tax/you retainership fees is inclusive of service tax.
f) You shall be paid conveyance for official purpose.
g) Any outstation travel and boarding shall be billed extra to the company/firm. Limits on travelling and boarding expenses are as follows...
h) other clauses
Kindly sign and return a duplicate copy of this letter as a token of acceptance.
Thanking you
Yours
MMMMMMMM
Hope the above gives you a fair idea
Regards
From India, Ambala
1The retainee will raise the invoice to your company/firm, which will include service tax (the retainee will have to get her/him self registered for service tax under appropriate head eg. professional consultant). Once the invoice is raised by the retainee, the company/firm would make the pament as per agreed terms, subject to deduction of TDS.
A typical agreement could be as under:
Dear .....,
We are pleased to appoint you as a professional consultant/advisor on retainership basis from dd/mm/yyyy.
The following are the terms and conditions:
a) The retainership shall be from dd/mm/yy to dd/mm/yy. It will automatically expire on dd/mm/yy unless extended in writing. During the retainership period, either side can terminate the agreement by giving ... months notice or retaineship charges for the notice perios, without assigning any reasons.
b) You shall interact with Mrs/Miss/Mr....... of our company during your retainership for all decisions/queries.
c) you shall be given....no pf persons for your assignment.
d) Your assignment shall be as follows......
e) Your retainership fees would be Rs...... per month. You would raise inoice on .....th of every month. Your invoice will become payable by....pf every month. You may levy service tax/you retainership fees is inclusive of service tax.
f) You shall be paid conveyance for official purpose.
g) Any outstation travel and boarding shall be billed extra to the company/firm. Limits on travelling and boarding expenses are as follows...
h) other clauses
Kindly sign and return a duplicate copy of this letter as a token of acceptance.
Thanking you
Yours
MMMMMMMM
Hope the above gives you a fair idea
Regards
From India, Ambala
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