Dear Seniors,
I have following queries regarding retainers :
1) What are the benefits a company enjoy if they hire retainers/professionals ?
2) What are the Statutory benefits need to give to retainers ?
3) Do we need to have licence to hire retainers ?
4) Are Labour laws applicable to them ?
5) Is TDS deduction mendatory if professional fee is not falling under tax slab ?
6) Do they eligible for Gratuity/ annual increment in professional fee/ do they need to serve notice period while resigning ?
7) Can we take a security amount (for a fix period) from them while hiring them ?
Any additional relevant information apart from above will be highly appreciated.
Regards
From India, Patiala
1I have following queries regarding retainers :
1) What are the benefits a company enjoy if they hire retainers/professionals ?
2) What are the Statutory benefits need to give to retainers ?
3) Do we need to have licence to hire retainers ?
4) Are Labour laws applicable to them ?
5) Is TDS deduction mendatory if professional fee is not falling under tax slab ?
6) Do they eligible for Gratuity/ annual increment in professional fee/ do they need to serve notice period while resigning ?
7) Can we take a security amount (for a fix period) from them while hiring them ?
Any additional relevant information apart from above will be highly appreciated.
Regards
From India, Patiala
Hai mandeep,
regarding retainers for further period of their services after completion of their regular service continuous on the agreement. They are won't be any other benefits if not specified on mutual consent. Tds applicable on all transactions. Some insurance company in allowing 60 and above aged employees. Acceptance of security deposit in depends upon the company's policy. Providing of other perks are depends upon the nature of services taken by the company.
From India, Visakhapatnam
regarding retainers for further period of their services after completion of their regular service continuous on the agreement. They are won't be any other benefits if not specified on mutual consent. Tds applicable on all transactions. Some insurance company in allowing 60 and above aged employees. Acceptance of security deposit in depends upon the company's policy. Providing of other perks are depends upon the nature of services taken by the company.
From India, Visakhapatnam
Dear Sir, in my opinion it all depends upon the nature of job on which a person is being engaged as a retainer or a consultant beside the period for which such a person is engaged . Also , much depends upon the age of the person being engaged beside if he is having a Legal Firm or a single handed professional.
As regards having a security from him, it depends on the work to be handled by him involving the financial transactions etc.
AK Chandok
RPFC (Retd.)
www.akchandok.com
From India, Chandigarh
As regards having a security from him, it depends on the work to be handled by him involving the financial transactions etc.
AK Chandok
RPFC (Retd.)
www.akchandok.com
From India, Chandigarh
Hi
Retainers can be appointed to render advice on HR/IR/Statutory/Legal matters to run the organization smoothly out of any disputes
on terms of conditions for a period of one year . TDS applicable . Ifyou need any retainer for giving advice on HR/IR/Statutory/Legal matters
please contact SS Associates Mobile No 9840330727;Mail ID ;swami_v1961@yahoo.com
From India, Madras
Retainers can be appointed to render advice on HR/IR/Statutory/Legal matters to run the organization smoothly out of any disputes
on terms of conditions for a period of one year . TDS applicable . Ifyou need any retainer for giving advice on HR/IR/Statutory/Legal matters
please contact SS Associates Mobile No 9840330727;Mail ID ;swami_v1961@yahoo.com
From India, Madras
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