FinonService Fees and Charges
For Employers
Projects
FinonServiceis free to sign up, post a project, receive bids/proposals from freelancers, review the freelancer’s portfolio and discuss the project requirements. If you choose to award the project, we charge you a small project fee relative to the value of the selected bid, as an introduction fee.
The cost and how this fee is charged percentage basis. Here is the chart.
For projects ranges between in below mentioned chart is levied at the time a project has been awarded by you.
| Project Cost Ranges | Percentage* |
|---|---|
| INR 1 to INR 5,000 | Rs. 500 |
| INR 5001 to INR 10,000 | 10% |
| INR 10001 to INR 50,000 | 8% |
| INR 50001 to INR 100,000 | 6% |
| More than INR 100,000 | 5% |
*Charges are exclusive of GST. 18% GST will be separately.
At the time of ordering a service, employers must provide funds equivalent to the total service price or according time purchased. The payment is protected by the FinonService Payment System. Only release the payment once you are 100% happy with the work that has been delivered or milestones are achieved.
You may cancel the project from your dashboard at any time before up to Seven (7) days after the project has been accepted or beforeapproval of work from employer side whichever is earlier for a full refund of your fee.
For Freelancers
FinonService is free to sign up, create a profile, select skills of projects you are interested in, upload a portfolio, receive project notifications, discuss project details with the employer, bid on projects (free members receive initially 5 bids ).
Optional bid upgrades may be purchased to bid on more projects.
Projects
For projects, if you are awarded a project, and you accept, we charge you a small project fee relative to the value of the selected bid, as an introduction fee.
For projects, the fee is levied on totalcost of projectsubmitted by the employer.The cost and how this fee is charged percentage basis. Here is the chart.
| Service Cost Ranges | Percentage* |
|---|---|
| INR 1 to INR 5,000 | Rs. 500 |
| INR 5001 to INR 10,000 | 10% |
| INR 10001 to INR 50,000 | 8% |
| INR 50001 to INR 100,000 | 6% |
| More than INR 100,000 | 5% |
• Charges are exclusive of GST. 18% GST will be separately
• TDS as per Income Tax Act will be deducted :-
1% on any payments to person other than individual , in case of individual TDS will be deducted if payments is more the 5 lac only in year
Fee applies when you are awarded a service order. This fee is charged when the service is released, which is after service has been awarded to you and the handover of entry materials has been completed to the client’s satisfaction.
Membership Plans
You can work on the site as either an employer or freelancer as a free member, or gain additional benefits as a paid member by upgrading to a paid plan.
Memberships will recur on either a monthly or annual basis on the anniversary of your subscription, unless cancelled. If funds are insufficient we will try to renew your membership for up to 30 days, until funds are made available.
You may cancel your membership at anytime from the user settings page, which will cease billing at the end of your subscription period without additional costs.
For Employers:
Select from a range of membership plans to determine the number of projects/jobs you can post, number of projects/jobs you can make as featured and number of days you can make a job/project as featured, banner options, package duration, private chat etc.
For Freelancers :
Select from a range of membership plans to determine the No of credits, number of services, No of featured services, Featured service duration, badge, banner options, package duration, featured profile duration, no of skills and chat optionsetc.
*Credits:No of credits per proposal
Withdrawals
Freelancers can withdraw their payouts at every 15 (Fifteen day). The minimum amount to process wallet withdrawal is Rs. 500.
Freelancers will need to add withdraw method before requesting a withdrawal. Available withdraw methods are NEFT/IMPS( Direct Bank Transfer ).
Withdrawls Fee
Select from a range of membership plans to determine the number of projects/jobs you can post, number of projects/jobs you can make as featured and number of days you can make a job/project as featured, banner options, package duration, private chat etc.
| Withdrawal Method | Applicable Fee |
|---|---|
| Direct Bank Transfer Withdrawal (NEFT/IMPS) | Free |
| Cash | NA |
Refunds
In some instances, refund of fees may be done. This refund will be credited to the Wallet and furthermore can be withdrawn by making a withdrawal request via available withdrawal methods available on the website
Transaction Fees
| Payment Method | Applicable Fee |
|---|---|
| Transaction fees incurred for using Credit Card, Netbanking* | INR 20 + 2.7% |
| Local Bank Deposit | Free |
*Credits:No of credits per proposal
Disputes Resolution
Our dispute resolution system is designed to allow both parties to resolve issues regarding milestone payments amongst themselves without arbitration.
Here are some of the conditions where Employer or Freelancer can raise a dispute. Both parties will be questioned and their project milestone / chat/ communication will be monitored/traced.
The winner will get their settlement amount after resolution of dispute
Offsiting Fee
Users who have violated our Terms and Conditions by conducting communications and transactions outside the platform will be assessed a penalty equal to 30% of the maximum project budget or the agreed amount.
Taxes
Taxes are applied based on local rates and rules defined by the user’s country of residence / registered country.
| Tax Name | Rate |
|---|---|
| India - Goods and Service Tax (GST) | 18% |
User Agreement
The fees and charges summarized on this page are governed by the terms of the Freelancer User Agreement and related site policies. The User Agreement includes other important terms and should be read in full. In particular section 23 of the User Agreement specifies the consequences of termination for violations of the User Agreement. Those consequences can include fines for damages that FinonService will sustain as a result of actions that breach the User Agreement.
