Question

Difference between self employment and wage employment

Answer 1

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Answer 2

Difference between self-employment and wage employment-

1. Self-employment is assigning work to oneself with an absence of a controlling figure whereas wage employment is provided by an employer who pays the wage to the laborer after the completion of the work. Wage is calculated on per day system. There is controlling authority in wage employment.

2. Self-employed workers have the flexibility to work according to their time and fix their deadlines whereas wage employed workers strictly have to submit their work within the given deadline assigned by their superiors.

3. Freelancers, consulting lawyers, writers are examples of self-employment, and any salaried work where an external authority remunerates is considered as wage employment.