Contractual Job

Hi,
I am new to CHR forum.
I want to know what are the implications of working as a Contractual employee, when somebody has already worked as a confirmed employee for about a year.
Does it effects your stability quetiont?
what if the person has joined a MNC but on contractual basis/
What are chances of getting absorbed by the company during or after the contractual period?
please help!!
Regards
Reet

The question is: If working as a contractor (direct or indirect) be such a concern, then why would one want to pose a question and ask for peoples' suggestions while it all seems so decided about not working on contract!!

Now, the reply to your post:

There are loads of benefits working as contractors. You can save a lot of taxes (if planned properly). Contractors can claim a who lot of things in exemptions from the IT department, which includes conveyance, stationery etc. which are not privileged to perm employees :-)

I worked on a contract ones after quitting a fulltime job. I was happy to make the choice because:

1) The stability concern that many future employers might have expressed is rightly justified when you quote that you worked on contract of X months/years.

2) The associated firm cannot restrict contractors from having parallel contracts or employments. And hence, I could do my freelance jobs, and part-time assignments without worries.

And, IF you are a HR person, you would know that extending contracts or permanent positions is complete based on business requirements and not liabilities or rules of engagement. Hence the answer to the last part is:

"It depends!!"

3)

Hi,
Would like to know on who's payrolls are you are you on the payroll of some consultants or the company itself. Because there are consultants like adecco, Teamlease, Manpower etc. who take employee on their payrolls and deploy the individual to the company.
Regards,
Derek

Hi
Thnks for your inputs.
Well, i am working with an MNC as a payroll associate in its finance departemnt.But i am on a consultant's payroll and this job is on contractual basis for 6 months.
However, before this, i was working with a real estate company as Ex- HR, handling the core HR functions.
I have joined this company thinking of its brand name and good saalry but now really thinking whether i have taken the right decision or not.
The profile is different- from HR to Finance.
So what should i do- should i quit this job and start a fresh for looking a job in HR profile only or should i continue with it considering the brand name and pay.
Please Guide...