I have a neat #protip for freelancers courtesy my financial expert sister. If you are a long term freelancer, register yourself as an MSME (valid for 1 person). If you're a small biz, by *law*, a company cannot neglect to pay an invoice beyond 45 days. It comes up in audits.
You know that form they send you to say you are *not* an MSME? Don't sign it. It allows companies to *not* pay you on time. Set yourself up as a small MSME and raise an invoice in that company (of 1) name. You will be paid in time.
any local CA who does your taxes can help you register.
you may have a problem of the company name vs byline name, sorted by going to your bank and including your MSME name in your regular savings account once you receive your certificate. Or keep the MSME name = your name. Check w your CA.
* this blew up. Hope it works for all of you and you get paid on time. pls do check with your CAs and the finance dept of companies that you work with before you take it ahead. all the best!
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