Certainly retaining allowance is different from overtime. Retaining allowance is paid when an employee is retained by the employer when the factory or establishment is not working.
When EPF Act came in to force, that time In Kolkata & in some other part in our country there was a system of engaging seasonal labours in some industries in which the labours were getting employment gainfully for six-seven months in a year and remaining months unemployed. During unemployment, they use to get retaining allowance so that they are available to the employer in next season.
The retaining allowance is also paid in pursuance of the Report of the Second Central Industrial Wage Board on the Sugar Industry and subsequently in implementation of the Award of the Industrial Court.
From India, Chandigarh
When EPF Act came in to force, that time In Kolkata & in some other part in our country there was a system of engaging seasonal labours in some industries in which the labours were getting employment gainfully for six-seven months in a year and remaining months unemployed. During unemployment, they use to get retaining allowance so that they are available to the employer in next season.
The retaining allowance is also paid in pursuance of the Report of the Second Central Industrial Wage Board on the Sugar Industry and subsequently in implementation of the Award of the Industrial Court.
From India, Chandigarh
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Maharashtra Special allowance Notification July 14 to Dec 14.pdf
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