How do you go about asking for a hike when you are working as a contractor and your contract is up for renwal? Like do you ask the company standard for contractors? I have completed two years at a Canadian company. They did not give hike last year due to COVID-19 issues. So I have asked my team lead about company standard and will give my proposed number then. Also, do y’all get any other perks apart from the flat fee?

I dont get other cash perks, but some benefits like 1 all expenses paid to a company event, a few subscriptions on some online services etc. Regards to the pay scale, if your company has salary bands for regular employees, I'd say they should (or you should push them towards) following that for you as well (things like ppp might be considered, but thats upto you and the company to decide). You should get a good reference point from there.

Thanks for the inputs, @chilly-leather-22154. Appreciate it!