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Any allowance which is paid to an employee by the employer to retain the resource is retaining allowance. This is generally an allowance paid to executives during the time when there is no operations but to retain him in the company an amount is paid. However, it should not be interpreted at par with lay off wages. A kind of special amount paid to a person of exceptional skill is also retaining allowance.
Regards,
Madhu.T.K
From India, Kannur
Regards,
Madhu.T.K
From India, Kannur
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