What Should We Call the Payslip for Contract-Based Consultants? Seeking Your Suggestions

Hi, Guys, I'm looking for a payslip format for the consultants we have recruited on a contract basis. What's the term we can use for the slip? Payslip, feeslip, or anything else? Please share your views.

Are you engaged with consultants or contract workmen?

Consultants and Service Agreements

Consultants are professional service providers who will have a service agreement. They will issue an invoice for the services they have rendered, and payment is processed based on the invoice amount. For them, payslips cannot be issued.

Hi Jeeva, appreciate your response on this. Here is my reply to your query.

Recruitment of Junior-Level Consultants

We are recruiting employees as consultants who are junior-level individuals for sales and collection business. Their agreement period will be only 6 months, which may be extended based on their performance.

Request for Payslips

These consultant employees are requesting a payslip, so we are currently working on this. We thought it would be beneficial to seek advice from other professionals on the matter.

Hi,

Consultants vs. Junior-Level Employees

Primarily, the logic of hiring junior-level employees as consultants is not right. A consultant should be a person who has expertise in a particular field and can offer advice to the employer on a specific subject. Such consultants will work on an assignment basis and will not work full-time. I'm not sure whether hiring on a consultancy contract basis is to avoid the statutory part.

Issuing Certification Letters for Consultants

Anyway, considering their short stint of 6 months, rather than issuing a payslip, issue them a certification letter (only for consultants who are asking). The content may be as follows:

This is to certify that Mr./Ms._________ was engaged by us as ____, as a consultant on a retainership contract basis from ______ to _______.

During the above period, he/she was paid a lump sum consultancy fee of Rs.____/- (Rupees ____ Only) per month subject to TDS.

The above will serve your purpose. They can use it as proof of the retainer fee/association with the company.

Hi, As they perform a similar role to on-roll employees, I suggest their designation can be the same, such as Sales/Field Collection Executive, but to differentiate, you may add in brackets "On short-term contract."

However, please be aware that whatever name you choose to term them, they should also be eligible for benefits like regular employees. As long as things go smoothly, you will not face any issues.