New Delhi -°C
Today in New Delhi, India

Nov 28, 2020-Saturday
-°C

Humidity
-

Wind
-

Select Country
Select city
ADVERTISEMENT
Home / India / Security net for NRI professionals

Security net for NRI professionals

The Cabinet approves the recently concluded Indo-French social security pact and is in talks with other European countries to seek various benefits.

india Updated: Sep 19, 2008, 01:34 IST
Vikas Pathak
Vikas Pathak
PTI

The Cabinet on Thursday approved the recently concluded Indo-French social security agreement and is in talks with other European countries to seek various benefits—pension, exemption from double social security contribution etc.—for Indian professionals abroad.

Though a certain span of service—it is 10 years for India—is required in any country for pension benefits, the pacts being worked will lead to adding up of stints in India and the other European country for full pension benefits, an official said. The process is on with the Netherlands, Germany, Norway, Switzerland, Sweden and Czech Republic, which have around 75,000 NRIs.

Without a bilateral social security arrangement, an Indian professional posted abroad pays double the social security contribution.

While the employee’s EPF contribution is deducted from salary in India, the person also has to contribute to social security in the country of posting.

ht epaper

Sign In to continue reading