Fee
Also called: professional fee · Topic: Employment, Unemployment and Informalisation · NCERT: Class 6, Ch 13 "The Value of Work"
Meaning
A fee is a payment made to a person or organisation for professional advice or services. It is usually paid for each piece of work or each visit, not for a fixed period of time. Doctors, lawyers and chartered accountants commonly earn fees.
Example
A patient pays a doctor ₹500 for one consultation. That ₹500 is a fee. The doctor is paid for the service given, not for the hours spent in the clinic.
Don't confuse with
- Wage: paid by an employer for a specific period of work, such as a day. A fee is paid by a client for a service.
- Salary: fixed regular pay, usually monthly, from an employer. A fee depends on how many clients or services there are.
Related concepts
- Economic activities
- Worker
- Workforce
- Wage
- Salary
- Payment in kind
- Employee
- Employer
- Work from home
- Moonlighting