Like Monga, lakhs of salaried workers have bitten into the forbidden fruit called moonlighting, From software professionals and web designers to content writers and data AnalystDifferent efforts are being made to create an additional stream of people revenue,
Read also:
How much can you earn by moonlighting?
Although moonlight shines are nothing new, the trend of side hustle has become widespread in the past two years. The work-from-home phase after the Covid outbreak gave people more time. They also learned new skills and began to use technology more effectively. companies Also woke up to the possibilities of remote working.
More than anything, job losses and salary cuts during COVID have prompted people to look for new avenues to generate income. It helped that there was no supervision during working hours and people could connect with anyone without fear of getting caught. A person may use equipment provided by his office to work for another company, possibly a rival of his employer.
Although Moonlighters want to appear as freelancers, there is a big difference between the two. A freelancer is not an employee so is free to work for different clients. But a regular employee working for another rival organization is not acceptable to most companies, especially the big guns in the tech sector. Most service contracts contain a clause that states that the employee will not conduct any business or provide services to anyone outside the company. last month, Wipro sacked 300 employees Those found working in another job or side hustle. A few days back, Wipro Chairman Rishad Premji had said that shining moonlight is a fraud. Other tech giants like TCS And Infosys Agree that employees should not work for other companies.
Rajnish Monga, 29 years, Bengaluru
regular job
Assistant Manager in Digital Marketing Firm
salary
85,000 per month.
side hustle
Handles digital marketing for a former client of the company.
gig income
Rs.30,000-35,000 per month.
When a customer approached her to covertly work on an online marketing campaign, Monga couldn’t resist the offer. He now works for several clients after hours and earns around 40% of his salary from these side gigs.
At the same time, some companies do not have any problem if their employees want to earn more money by doing other jobs. Food delivery company Swiggy has rolled out a moonlighting policy that allows employees to take up additional jobs to earn more. “If an employee meets the requirement of working eight hours a day on the job, he should be allowed to spend the remaining 16 hours of the day,” says Bhavya Mehta, a Pune-based software professional. Job three years back and now works as a freelancer for various Indian clients and foreign companies.
However, Swiggy has emphasized that this work should be done after office hours or on weekends so that it does not affect the productivity of the employee. Also, made it clear that there should be no conflict in the second job. interest With the business of Swiggy.
Swati Sinha, 42 years, Delhi
regular job
journalist in business newspaper
salary
1.45 lakh per month.
side hustle
Ghost writes articles for companies and PR agencies. Also edits reports for overseas clients.
gig income
Rupee. 30,000-40,000 per month.
After starting a family 13 years ago, Sinha quit her regular job and became a freelancer. She later resumed her job but did not rule out freelancing assignments that came her way. The extra income is about a third of his regular income from the job.
Things are a little easier for consultants, who can also freelance for other organizations. However, companies often slip in a no-compute clause that prevents the employee from freelancing in the same line of business. Sanjeev Mittal is an exception in this case. The accountant in a small firm in Mumbai was finding it difficult to survive on his meager income, so he sought permission from his employers to do the accounting work of small clients and shopkeepers. To their relief, their employers didn’t mind if the freelance work was done after hours. “They understood that I needed the money and that my salary was not enough,” he says. With the increase in tax compliance requirements with the introduction of GST, Mittal now works for 7-8 customers and earns a good 20-25% of his regular income. However, for others, this extra side income puts their regular jobs at risk.
The law here is quite straightforward. If your employment contract prohibits you from working elsewhere, you could be fired for moonshine. It is a fear that constantly haunts Monga, but the lure of extra money is very tempting. “Side income is like cocaine. Once you get used to it, you can’t let it go,” he says. He has become so used to side income that moonlighting is risky, but he Can’t think of letting go. If you’re moonlighting (or planning to), here are some tips that might help.
maintain complete confidentiality
The first rule is also the simplest: don’t tell the world what you’re doing. Priyanka Gupta maintains complete secrecy about her side hustle. The Gurgaon-based web designer uses a separate computer and email ID for all side-gig related tasks. Says Gupta, “Only my family and a few close friends know that I do freelancing. This keeps him away from groups that share leads on freelance work, but Gupta isn’t complaining. “My regular clients and referrals from a few reliable sources give me enough work. I don’t need any more because I have my hands full,” she says.
build personal credibility
As a freelancer, you must work to build your personal brand. As a first step, treat deadlines like religion. Set schedules and follow them strictly so that you can complete the projects within the stipulated time. For the same reasons, don’t do too much work that you won’t be able to complete without compromising on quality. “You need to present your work as a business. If you meet the deadline and deliver good quality work, your personal brand will be in demand,” says Bhavya Mehta. This will also show that How professional are you?
Sanjeev Mittal, 38 years old, Mumbai
regular job
accountant in company
salary
Rs.65,000 per month
side hustle
Does accounting and bookkeeping work for small companies and shoppers.
gig income
Rs.15,000-18,000 per month
Mittal has been working for a small company for many years but his income is not very much. When he asked permission for smaller clients to be free, his employers did not object. Their only condition is that freelance work should be done after hours.
Don’t resort to undercutting
Competition for work is fierce, but don’t let that discourage you. For grabbing work, some people cite low prices. Swati Sinha says, “The field of content writing is dominated by undercutting. “Some people are willing to work 50-60 paise a word.” However, such content is of questionable quality and is often copied from websites. By agreeing to work at lower rates, you give the impression that your work will not be of very high quality. It may get you work in the short term but may put future projects in jeopardy.
Make full use of technology
Buy productivity tools that can reduce your effort and increase your earning potential. View them as an investment rather than an expense. Also use social media platforms to build business contacts and networks. But use these channels very carefully, lest they take away your side hustle.
Priyanka Gupta, 31 years, Gurgaon
regular job
Web designer
salary
Rs.68,000 per month
side hustle
What makes web designing for small entrepreneurs and individuals
gig income
Rs.22,000-25,000 per month
Before getting a regular job, Gupta used to do freelancing work. Even after getting a full time job, he did not stop freelancing. Though it is not allowed, she often uses software and designing tools in her office for her freelancing assignments.
maintain financial discipline
Keep a record of all financial transactions as any income that comes to you will appear in your Annual Information Statement with the tax department. Make sure you declare that income and pay applicable tax on that income. In most cases companies deduct 10% TDS from the payment. The tax implications do not end here. If you are in the 20-30% bracket, you will have to pay additional tax.
where you can find side gigs
These websites can help you get freelance assignments. Most of them take a 10% deduction on the freelancer’s earnings.
upwork
www.upwork.com works for both novice and experienced freelancers in almost any job category. The client list includes big names and can bring you gigs that pay well.
toptal
www.toptal.com It is very selective in the screening process and takes only qualified freelancers. You can get high-paying projects from big names around the world.
Freelancer India
www.freelancer.in offers work in different categories and also allows freelancers to create google list of their work. Membership is free but on payment you get better options of work.
truelancer
www.truelancer.com
Offers projects in web designing, computer programming, marketing, designing and copywriting. While they ensure that freelancers get paid on time, they also work to ensure that clients are satisfied.
99design
www.99designs.com offers designing projects including web designing and logo. You get paid only when the work submitted by you meets the criteria and is selected by the customer.