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What is an independent contractor?
What is an independent contractor?

An independent contractor is a person who works under a contract for services and is not under the control of the client or employer. Independent contractors are generally free to work for multiple clients or employers and set their own hours and work methods. Independent contractors include professionals like doctors, lawyers and accountants.

An independent contractor may be differentiated from an employee who is a person who works for an employer under an employment contract in exchange for compensation and benefits, some of which are mandated by law. These statutory benefits and rights include a minimum wage, rest breaks and paid holidays, and entitlement to maternity or paternity leave.

Disclaimer: This material has been prepared for informational or education purposes only. The discussions or information contained herein may be based on sources reasonably believed to be reliable but which has not been independently verified by an independent tax or legal professional. Thus, it is not intended to provide, and should not be relied upon as tax, investment, business and/or legal advice. Please consult with your own tax or investment adviser and legal counsel regarding this subject matter especially with respect to the relevance or accuracy of any discussion or information contained in this material under the applicable laws, rules and regulations in your jurisdiction.

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