For both Milestone based pay and contractual engagements, Econolytics charges 20% of the project value as the fee from the expert. We get paid as you get paid to ensure that this is not a fixed expense for you. Here is how it will work:
1. Milestone based pay:
Project Budget is $1000 and Milestone 1 payout is 15% of the Milestone, therefore, $150.
When the client approves the milestone, we will deduct 20% of the payout, i.e, $30 and transfer the remaining $120 to your bank account. This is a very simple calculation, not taking into account the service tax or tax deducted at source. The same process is applied for every milestone.
2. Contractual Pay:
Lets say, you take a project for $100 per week or per month. We will transfer $80 at the end of each week or month and retain the $ 20 as our fees.
3. Permanent Contracts:
We do not charge anything from you. Our contract in this case is with the client.