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The difference between employment and profession is qualification. Before starting a profession, special qualification and training are required whereas, in employment, qualification is needed according to the nature of the job.
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On the other side, the fee is known as a reward for the profession, and the salary is known as a reward in employment.
To know about the differences we have to know about the meaning of these terms which are shown below:
1. Meaning of Profession:
Profession means all those activities which require special knowledge and skills. People who are connected with these activities are called professionals.
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For example, doctors are in the profession of medicine and are governed by the Medical Council of India.
2. Meaning of Employment:
It means when an individual works regularly for another person and earn money in return. These individuals are called employees. A person who employs these people is called the employer.
For example, working in colleges, banks, companies, showrooms, as a clerk, peon, sales executive.
The Chart of difference between profession and Employment:
Points of differences | Profession | Employment |
| Meaning | Profession means all those activities which require special knowledge and skills. | Employment means when an individual works regularly for another person and earn money in return |
| Purpose | The main objective or purpose of the profession is to provide service to the people. | The purpose of employment is to earn profit by satisfying the employer. |
| Reward | The professional receives fee by rendering services. | The employees receive a salary as a reward in employment. |
| Examples | For example, doctors are in the profession of medicine and are governed by the Medical Council of India | For example, working in colleges, banks, companies, showrooms, as a clerk, peon, sales executive. |
| Qualification | Professional qualification and is required in the profession. | In employment, qualification depends on the nature of the job. |
| Investment | In the profession, limited capital is required. | There is no need for investment to do any job. |
| Work | Providing service to the people. | Performing the work as assigned by the employer. |
| Basis of risk | There is little risk in the profession. | There is no risk in employment. |
| commencement | Profession starts after completion of a degree course with a certificate of practice. | Employment start with the joining duty. |
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Conclusion:
Thus, profession deal with the activities related to providing service and professionals charge fee against their service rendered. whereas employment includes individual works regularly for another person and earns money in return in the form of salary.
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- https://tutorstips.com/advanced-financial-accounting-tutorial/
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