Is it fine to do freelancing along with a full time job? Is it considered the same as moonlighting?

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Unless your first company doesn't know it should be fine . If you can manage .the worst that can happen is you loose job. But if you are talented enough to get a freelance gig .you should not worry about that I assume..

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Freelancing while holding a full-time job can be permissible, but it depends on several factors, including your employment contract, company policies, and local labor laws.

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Keep it secret, do not share with colleagues.
Make sure there is no pf kind of things involved, so that if affects your BGV.
Do not use office laptop for it.

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Well, it is not totally illegal.
But a bit tricky...
First as the few comments already stated, go through the contract, company policies or try to talk with some higher up from your company who know most of the rules (if not comfortable try to slip in the talking and ask what are there prospective as the company part).
**Most of the time the company will force you not to do freelancing and make it hard for you to do other works except offices'.
##If decides to do FL, Don't work for the rival companies and don't spill out your company projects. Try to take different approaches from what you are taking in the company.
And yes! It is considered Moonlighting, few months back I remember reading an article where it said many companies have laidoff their employees because of freelancing (considered as Moonlighting).
That's my thoughts.
Peace ✌️🕊️.

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Please go through your company policies and offer letter.

If it is in the same industry, then, yes. It is considered as moonlighting. Most of the Indian companies do not allow as per employment contract.

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