India and France have finalised the modalities of a bilateral social security agreement under which Indian professionals in the European country will be treated at par with its citizens.
The social security agreement is now expected to be formally signed by the prime ministers of the two countries during the India-EU summit in Paris this September.
The agreement will provide for bilateral social security arrangement whereby an Indian employee or a professional can avail the benefits of his social security, pension and others even after leaving France and will not be subjected to double deductions in both countries.
This will also ensure that the signatory countries make deductions from an Indian employee in France accordingly and that he is redeemed of the benefits either in France or India.
Old age and survivors pension for employed and self-employed Indians in France, invalidity insurance and permanent disability pensions for sailors will also be redeemable even in India in both Indian and French currency.
It will also entitle Indian employees to be treated as equals by the French government and French employers as part of an Equality of Treatment clause in the agreement.
A French delegation headed by Kata Julienne, head of EU and International Affairs department in France, reviewed the conditions of the pact during a three-day visit in New Delhi from August 27 to 29.