Covid-19 pandemic has turned the tables for all of us in terms of work-life and mode. From attending meetings personally to joining zoom calls from home, there’s a 360-degree shift to the way professional network worked.
Given the lockdown, a lot of us are either working from home or working as a freelancer. In this article, we are explaining the basic difference of working as a freelancer or a remote worker.
- Work remotely, Work remotely - Working remotely doesn’t mean that you don’t have to follow company rules. Always remember, you are just working remotely but everything else remains the same. So, always be watchful towards your conduct and stick to company rules.
- Self-employed, Works for one Company - If you are self-employed, you work for just yourself. Yes, it is right the more you work the more you earn, but taking out some time for yourself and your loved ones energize you and trust us you have had new ideas to work on.
- Pays self-employment tax, Company withholds taxes- Working independently doesn’t mean that you don’t have any tax liability. Consulting a CA and submit your tax in time will keep tax-related issues at bay.
- Not eligible for benefits, Company provides benefits (health insurance) - As an independent work you might not be able to afford health policies and insurance, but working for a company does come with these benefits.
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Work on short term projects, work on long projects - Freelancing does give you the flexibility to choose your projects, duration and working hours.