Big Initiative For Indians Who Working Abroad
A Big Initiative For Indians Who Working Abroad, The Government Signed Agreements With 22 Countries : The government has taken a big step to promote social security coverage. Social security agreement has been made with 22 countries. This includes 22 countries including Britain, Netherlands. Britain has recently given its approval. The government has also included the provision of social security in the free trade agreement with America.
Indians Who Working Abroad
Under the Social Security Agreement, the Provident Fund of those working abroad will be deducted in the country. The period for deduction of Provident Fund of those working in an Indian company abroad is 3 years.
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Union Minister Mansukh Mandaviya said that we are talking to countries of the world for social security agreement. In the Free Trade Agreement, we have requested the Commerce Ministry to include this in the FTA, so that our people can also get social security benefits.
What does Social Security consist of?
Social security is a system that provides various kinds of social and economic protection to individuals, especially at stages of life where they face risks such as unemployment, sickness, disability or old age. It acts as a safety net, which helps to reduce economic hardship by providing minimum income or other essential security to eligible members of society.
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