what is the difference between contract of service and contract for service
Prashanth
(Chartered Accountant)
(2322 Points)
Replied 22 November 2011
@ Devi
For solution to your query browse this
/experts/contract-for-service-contract-of-service-170616.asp
Sumit Middha
(Head (Fin.& A/c) M.COM M.A.(Eco) MBA CS Final)
(2453 Points)
Replied 25 November 2011
An understanding of the types of contracts between clients, agencies and contractors and employees is vital for a contractor to be able to determine whether they are working inside or outside of IR35.
However, the debate over contracts of service and contracts for service has a long history in employment law, as has the employment status of agency workers long before the contracting sector took off and IR35 was introduced.
The fundamental difference is that:
In each of these types of contract, both parties have specific rights and responsibilities, which differ according to the type of contract in place.
Contractors should be aware of their rights and responsibilities when they have a contract for services between their limited company or contractor umbrella company and their agency or end-user client.
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