Essential Elements of a Freelance Worker
Freelancing is an emerging trend in the field of employment nowadays, and many people realize the benefits of working at home or anywhere in the world in a digital platform which proves to be convenient and comfortable. You have the chance to work from any part of the world or even from your home at your comfort, and there is no supervision.
In some people’s eyes, freelance work is a part-time job which adds to a primary source of income and therefore, they do it for pleasure while to others, it is a full-time occupation which earns a modest income. Anyway, this is unlike other formal jobs where you have to be present at the workplace to do your duties, but it gives you the freedom to be self-motivated and work from anywhere without any person monitoring your progress. It might seem attractive but before you take the first step to getting a freelance job, here are some few facts that you must know well.
Contracts – Most companies that offer jobs to freelancers have short term projects which must be undertaking over a definite period, and usually, any freelancers would have the appropriate resources to complete the tasks. Coming up with a work contract is important for a freelancer and the company should sign it so that it becomes binding. It should stipulate the duties of each party and any penalties in case of a breach. It should elaborate the work that you are doing, the duration and the payments and this would help to avoid any incidents of misunderstanding and exploitation.
Taxes – As a patriot to your country, you must submit your taxes. After completing the tasks for the company, you will write an invoice and get the payment, and the company will not withhold any tax. Therefore, it is your responsibility to remit the tax to the authorities in the appropriate proportion according to your income. It is easy to have a separate tax account which you do not access so that it holds the tax amounts. Be keen on tax payment dates so that you avoid any penalties for late payment.
Holiday and sick pay – In freelancing, there is no payment for a holiday or sick days that you did not work. You will not have any compensation of whatever kind suppose you fall sick or go for a holiday such that you are not able to do your work. For this reason, you must work hard enough to cover for the days that you may not work due to some unforeseen event that may disrupt your job.
Time management – In freelancing, time is of the essence, and you must make good use of it so that you reap the most. You need a lot of concentration when doing these jobs so that you avoid making mistakes and wastage. Keep off any form of distractions and have a work schedule which you follow strictly.