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Employed Vs. Self-Employed: Key Distinctions Explained
Being employed and being self-employed are two different ways of earning a living. While both have their advantages and disadvantages, choosing the right option depends on your personal preferences, financial goals, and lifestyle. In this article, we’ll explore the key distinctions between being employed and self-employed. Employment Status Employee An employee is a person who works for an employer. The employee has a contract of employment that outlines their job duties, working hours, salary, benefits, and other terms and conditions of employment. As an employee, you are entitled to certain rights and protections under the law, such as minimum wage, holiday pay, sick pay, and pension contributions. Self-Employed A self-employed…
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Unemployment Benefits For Self-Employed Individuals: Explained
Being self-employed comes with its own set of challenges. One such challenge is the lack of job security and the risk of losing income. Losing a job can be stressful, but for self-employed individuals, it can be even more daunting. However, there is some good news. Self-employed individuals are now eligible for unemployment benefits in some states. In this article, we will explain how self-employed individuals can avail unemployment benefits. What are Unemployment Benefits? Unemployment benefits are payments made by the state government to individuals who have lost their jobs. These payments are intended to help individuals who are unemployed to continue meeting their financial needs until they find a…
