Around 75,000 Indian workers are likely to benefit from the move as India, UK sign new pact on social security.
What’s in the India-UK social security pact?
Seeking to avoid double social security contributions for employees of both countries on temporary assignments in each other’s territories for periods of up to 36 months, the pact on social security was signed by Foreign Secretary Vikram Misri and British High Commissioner Lindy Cameron. “This will enhance India-UK partnerships in the service sector, leveraging the high skills and innovative service sectors of both countries,” the MEA noted. IT majors like Tata Consultancy Services (TCS) and Infosys operating in the UK are expected to benefit from the pact as they will not require to make social security contributions for up to three years for employees they move from India to support their operations.Who are the Indian workers getting the benefits?
Around 75,000 Indian workers are likely to benefit from the move. At the time of signing of the India-UK Comprehensive Economic and Trade Agreement (CETA) in July last year, both sides had committed to conclude the agreement on social security. The social security pact forms part of India’s trade deal with the UK and shall come into effect together with CETA, planned for implementation during the first half of the current year, according to the MEA. “The signed agreement will be hosted on the website of the Ministry of External Affairs and the website of the Employees’ Provident Fund Organisation for the information of the stakeholders so that they can secure Certificates of Coverage to avoid making double social security contributions,” the ministry said. (With inputs from PTI)Source link














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