Hi Friends, I have recently joined as a consultant. They are treating me as an employee when it comes to facilities, they are saying that is not applicable. Can anyone suggest to me what is the difference between an employee and a consultant?
From United States, Fremont
1From United States, Fremont
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Except for the 10% TDS, there are no statutory implications on consultants. The consultant's requirement will be time-bound, with no permanency, and they will not be on the company's payroll. The rules and regulations of the company do not apply to the consultants. Even the working hours and days will be as per the agreement.
Regards,
Kamesh
From India, Hyderabad
Regards,
Kamesh
From India, Hyderabad
Dear, Please clear your point. R u regular employee ? or externally providing consultation ?
From India, Pune
From India, Pune
Dear,
In my opinion, an employee is a person who performs his/her duties according to the rules and regulations of the company on a permanent basis. The company provides benefits to the employee. On the other hand, a consultant is appointed for a specific project or to solve a particular problem. Consultancy is not a full-time job, so the consultant is not eligible for such benefits.
Thank you.
From Pakistan
In my opinion, an employee is a person who performs his/her duties according to the rules and regulations of the company on a permanent basis. The company provides benefits to the employee. On the other hand, a consultant is appointed for a specific project or to solve a particular problem. Consultancy is not a full-time job, so the consultant is not eligible for such benefits.
Thank you.
From Pakistan
It appears from the query raised by him that the company has appointed him as a regular employee. However, instead of giving an appointment letter, the company has made an agreement with him as a professional for rendering his services. Neither the company provided proper information nor did he delve into details at the time of appointment. He might not be aware of the difference between a professional/consultant and an employee, as the understanding and paperwork differ.
Nowadays, such arrangements are common in many places to avoid statutory liabilities, compliance issues, and legal headaches.
Regards,
Pramod Thakar
From India, Pune
Nowadays, such arrangements are common in many places to avoid statutory liabilities, compliance issues, and legal headaches.
Regards,
Pramod Thakar
From India, Pune
Dear all,
I have deducted Rs. 12,360/- as TDS from the salary for the month of Dec-11. Due to some reasons, I didn't pay the TDS until 16.02.2012. Please guide me on how much interest I should pay along with the TDS of Rs. 12,360/-.
1. How to calculate interest?
2. How much percent of interest should I pay?
Thank you.
From United States
I have deducted Rs. 12,360/- as TDS from the salary for the month of Dec-11. Due to some reasons, I didn't pay the TDS until 16.02.2012. Please guide me on how much interest I should pay along with the TDS of Rs. 12,360/-.
1. How to calculate interest?
2. How much percent of interest should I pay?
Thank you.
From United States
[QUOTE=friend_tou86;1784433]Hi Friends,
I have recently joined as a consultant. They are treating me as an employee when it comes to facilities; they are saying that is not applicable. Can anyone suggest to me what the difference is between an employee and a consultant?
A person who is working for a full day and receives wages for the work is an employee, whereas a consultant is employed for a retainer fee by an employer for advising the employer on matters of reference. However, a clear reply can be given only after seeing the full letter of appointment terms and conditions.
V Hariharasubramanian
From India, Madras
I have recently joined as a consultant. They are treating me as an employee when it comes to facilities; they are saying that is not applicable. Can anyone suggest to me what the difference is between an employee and a consultant?
A person who is working for a full day and receives wages for the work is an employee, whereas a consultant is employed for a retainer fee by an employer for advising the employer on matters of reference. However, a clear reply can be given only after seeing the full letter of appointment terms and conditions.
V Hariharasubramanian
From India, Madras
Dear Ramesh,
Please consider the following accounting effects within your books of accounts and the method of accounting.
If the salary for the month of December is recorded in the books, i.e., payable on 31.12.2011, in that case, TDS is also on the same date. In such a case, TDS liability is payable to the Government and is due by 7th January 2012. Hence, the interest payable on your TDS liability if you pay before 29.02.2012 would be 3% [1.5+1.5], i.e., Rs. 371/-.
If the salary for the month of December is recorded in the books, i.e., payable on or in the month of January 2012, in this case, TDS liability payable to the Government is due by 7th February 2012. Hence, the interest payable on your TDS liability if you pay before 29.02.2012 would be 1.5%, i.e., Rs. 185/-. Normally, salary provided on the last day of the month on Mercantile accounting system; hence, in your case, 3% interest would be applicable.
Regards,
Pramod Thakar
9822435423
From India, Pune
Please consider the following accounting effects within your books of accounts and the method of accounting.
If the salary for the month of December is recorded in the books, i.e., payable on 31.12.2011, in that case, TDS is also on the same date. In such a case, TDS liability is payable to the Government and is due by 7th January 2012. Hence, the interest payable on your TDS liability if you pay before 29.02.2012 would be 3% [1.5+1.5], i.e., Rs. 371/-.
If the salary for the month of December is recorded in the books, i.e., payable on or in the month of January 2012, in this case, TDS liability payable to the Government is due by 7th February 2012. Hence, the interest payable on your TDS liability if you pay before 29.02.2012 would be 1.5%, i.e., Rs. 185/-. Normally, salary provided on the last day of the month on Mercantile accounting system; hence, in your case, 3% interest would be applicable.
Regards,
Pramod Thakar
9822435423
From India, Pune
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