The supply mentioned that from now onwards, the social safety settlement (SSA) shall be an in-built part of all free commerce agreements to be negotiated in future.
“UK is believed to have agreed on the social safety part beneath the FTA negotiations, which might be ratified within the close to future,” the supply mentioned.
The SSA, a reciprocal association between two or extra international locations, ensures that an worker whereas on a international task doesn't must contribute to the social safety protection fund in that nation however get the total advantage of employment interval for pension calculation, whereas the employers are saved from making double social safety contributions on behalf of their employees.
The Indian staff posted overseas or on international task are required to acquire a certificates of protection (CoC) from retirement fund physique EPFO, which helps them keep away from paying social safety contribution in international locations the place they're posted.
The Workers Provident Fund Organisation (EPFO) has been authorised to challenge the Certificates of Protection to staff posted in nations which have signed an settlement with India. Union Labour Minister Mansukh Mandaviya advised reporters right here that he has requested the commerce ministry to incorporate the SSA in all FTA negotiations in future. He mentioned, “We're doing so to advertise social safety for all.”
At current, India has SSAs with 22 international locations together with Canada, Japan, Australia, Germany, Sweden and Brazil.
The citizen of all 22 nations with which India has inked SSAs get the identical profit if they're posted in India.
