Full time retainership
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Sunny
Mar 24, 2013, 12:20:02 PM3/24/13
to CSMysore
Dear All,
Suppose some body is appointed on a full time retainership as per the
following terms of conditions
1. Your Retainership / Service period will be for xx Months (in words
Months) commencing on
<<Date>> and expiring on <<Date>>. The period can be further extended
based on the
requirement of your services and your performance.
2) You are required to work on weekdays from Monday to Friday. You may
be also required to
work additional days by way of overtime either as or when requested to
do so by the company
or when the proper performance of your work requires it.
3) You will be paid all inclusive Service fee/retainership fees of INR
xxxx (In words Only) per
annum, equally distributed over the year. Please note that you will
not be eligible for any other
benefits and /or allowances of any kind given to regular employees.
Service fee/Retainership fee
is exclusive of Service Tax, which is to be reimbursed after
submission of requisite documents
4) You will render your services entirely to Company on a full time
Basis. During the period of this
contract, you will not engage yourself in or undertake work for any
other company / Firm /
Person.
5) This offer of providing service is provisional / conditional and
subject to a professional reference
check to be carried out by the Company. Depending on the results /
outcome of the reference
check or your engagement is not satisfactory; the company shall be
entitled to rescind/ recall
this offer. To the said extent your engagement is conditional and
subject to. In addition the
company would be entitled to initiate any other appropriate action in
the manner known to law.
6) The retainership can be terminated by giving one month’ s notice,
in writing, or payment of one
month retainership in lieu of notice period by either of the Parties.
7) On the completion of the service period of your retainership, if
Company wishes to continue with
your services, till such time you are intimated in writing regarding
the extension or termination
of your retainership period, all the terms and conditions of the
original retainership contract,
including the condition of notice period will be applicable to both
the parties.
8 ) Your leave entitlements would be based on the Company’s Leave
policy. For details of your leave
entitlements please refer to the Leave Policy applicable to Retainers.
9) You shall join us by <<Date>>
10) During your retainership service period with the company, you may
be mobilized /delegated to
any of the offices / projects / divisions/ departments / units of the
company existing or to be set
up at any other location, without any additional remuneration.
11) You will pay all your tax liabilities including Income Tax,
Profession Tax or as may be applicable
on the aforesaid fee and the Company will not be liable for the same.
TDS will be deducted from
your monthly service fee / retainership fee as per law.
12) You shall be covered under Group Personal Accident Insurance,
which provides coverage for
complete tenure of your retainership period.
13) The full time retainers / service providers are not regular
employees of the company and will
not be treated on par with permanent / regular employees.
14) During the tenure of your assignment, you shall maintain utmost
confidentiality on the project.
Similarly you shall not disclose any information to any third party.
In the event you breach any
of the said requirements, the company shall be entitled to initiate
appropriate action including
termination of your employment without notice and initiating
appropriate civil and criminal
action.
15 ) During the tenure of your retainership as service provider, you
shall defend, indemnify and
hold the company harmless from any / all claims, liabilities, losses,
costs arising from or in
connection with any negligent, intentional act or omission on your
part.
MY QUERIES ARE AS FOLLOWS
a) under what section TDS would be dedcuted 194J or 192 of Income tax
act
b) Whether PF /ESI will be dedcuted
c) Whether he is eligible for Gratuity
Suppose some body is appointed on a full time retainership as per the
following terms of conditions
1. Your Retainership / Service period will be for xx Months (in words
Months) commencing on
<<Date>> and expiring on <<Date>>. The period can be further extended
based on the
requirement of your services and your performance.
2) You are required to work on weekdays from Monday to Friday. You may
be also required to
work additional days by way of overtime either as or when requested to
do so by the company
or when the proper performance of your work requires it.
3) You will be paid all inclusive Service fee/retainership fees of INR
xxxx (In words Only) per
annum, equally distributed over the year. Please note that you will
not be eligible for any other
benefits and /or allowances of any kind given to regular employees.
Service fee/Retainership fee
is exclusive of Service Tax, which is to be reimbursed after
submission of requisite documents
4) You will render your services entirely to Company on a full time
Basis. During the period of this
contract, you will not engage yourself in or undertake work for any
other company / Firm /
Person.
5) This offer of providing service is provisional / conditional and
subject to a professional reference
check to be carried out by the Company. Depending on the results /
outcome of the reference
check or your engagement is not satisfactory; the company shall be
entitled to rescind/ recall
this offer. To the said extent your engagement is conditional and
subject to. In addition the
company would be entitled to initiate any other appropriate action in
the manner known to law.
6) The retainership can be terminated by giving one month’ s notice,
in writing, or payment of one
month retainership in lieu of notice period by either of the Parties.
7) On the completion of the service period of your retainership, if
Company wishes to continue with
your services, till such time you are intimated in writing regarding
the extension or termination
of your retainership period, all the terms and conditions of the
original retainership contract,
including the condition of notice period will be applicable to both
the parties.
8 ) Your leave entitlements would be based on the Company’s Leave
policy. For details of your leave
entitlements please refer to the Leave Policy applicable to Retainers.
9) You shall join us by <<Date>>
10) During your retainership service period with the company, you may
be mobilized /delegated to
any of the offices / projects / divisions/ departments / units of the
company existing or to be set
up at any other location, without any additional remuneration.
11) You will pay all your tax liabilities including Income Tax,
Profession Tax or as may be applicable
on the aforesaid fee and the Company will not be liable for the same.
TDS will be deducted from
your monthly service fee / retainership fee as per law.
12) You shall be covered under Group Personal Accident Insurance,
which provides coverage for
complete tenure of your retainership period.
13) The full time retainers / service providers are not regular
employees of the company and will
not be treated on par with permanent / regular employees.
14) During the tenure of your assignment, you shall maintain utmost
confidentiality on the project.
Similarly you shall not disclose any information to any third party.
In the event you breach any
of the said requirements, the company shall be entitled to initiate
appropriate action including
termination of your employment without notice and initiating
appropriate civil and criminal
action.
15 ) During the tenure of your retainership as service provider, you
shall defend, indemnify and
hold the company harmless from any / all claims, liabilities, losses,
costs arising from or in
connection with any negligent, intentional act or omission on your
part.
MY QUERIES ARE AS FOLLOWS
a) under what section TDS would be dedcuted 194J or 192 of Income tax
act
b) Whether PF /ESI will be dedcuted
c) Whether he is eligible for Gratuity
Thirumalesh Bhat
Mar 25, 2013, 2:18:14 AM3/25/13
to csmy...@googlegroups.com
act 194J
b) Whether PF /ESI will be dedcuted If you are not registered, the same is applicable
c) Whether he is eligible for Gratuity No
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Ramaswami Mohan
Mar 25, 2013, 3:26:09 AM3/25/13
to csmy...@googlegroups.com
how about service tax . co may be liable to pay service tax if the service provider bills; even if he does not bill due to himself not attracting due to his income being less than Rs. 10 Lakhs ; then on account of Negative Charge provisions, the co will still be liab;e to pay service tax ?
regards,
Mohan
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CS. R. Mohan
Mobile: 9908814677
CS. R. Mohan
Mobile: 9908814677
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