Please let me know the difference between a compensation structure of a consultant and a salaried employee?
Can professional fees be broken up as a proper salary structure like Basic,HRA,DA etc.?
Thanks
From India, Mumbai
Can professional fees be broken up as a proper salary structure like Basic,HRA,DA etc.?
Thanks
From India, Mumbai
Dear rani,
An Employee get salary and consulant gets his fee for service rendered. Both are totally different.
An Employee get appointment letter, whereas an consultant you will have to make an agreement on stamp paper.
A consulatant will raise his Invoice bill every month for the service rendered and you will pay that accordingly as per your agreemet, with service tax deduction.
Whereas in case of employee you will deduct the income tax.
hope that is helpful.
Ukmitra
From Saudi Arabia, Riyadh
296An Employee get salary and consulant gets his fee for service rendered. Both are totally different.
An Employee get appointment letter, whereas an consultant you will have to make an agreement on stamp paper.
A consulatant will raise his Invoice bill every month for the service rendered and you will pay that accordingly as per your agreemet, with service tax deduction.
Whereas in case of employee you will deduct the income tax.
hope that is helpful.
Ukmitra
From Saudi Arabia, Riyadh
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A Lesson for Every Salaried Employee.doc