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"Retainer" is basically a person who is available to you for advise . He is not required to put in daily attendance or observe any fixed working hours. He charges a retainership fee for his services. In case, he is required to come and put in attendance or appear on your behalf before any authority/court etc, he charges you separately for such services. This however, depends upon the terms of his/her engagement as a 'Retainer'
In my previous employments I had engaged retainers as advocates/income tax advisors.
In case of employment on contractual terms, the incumbent is required to physically put in attendance as per the terms of the contract.
The basic difference, in my opinion is, while in the case of retainership, the availibility of person for advise is ensured, in the latter case his physical presence for dicharging the duties is necessary.
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∙ 13y ago
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Is it ethical for the retired judge to accept the retainership?
As a retired judge, he has no 'power' and retainership should not be a problem.
What is TDS rate on Payment for Retainership Fee?
10.33%
What do you mean by retainership basis?
The term "retainership basis" refers to the payment of a fixed yearly or monthly fee to a service provider who is not actually an employee of the company paying the fee. The retainer ensures that the company involved is able to utilise the service provider on a "need to" basis.
Is a Retainership Bonus or Joining Bonus part of CTC?
No, it is not a part of CTC because it is a one time money paid and not a recurring sum.
