EPFO SSA: The very good news is on the way if you are an Indian working for a firm abroad. An excellent update has been provided for you by the Employees Provident Fund Organization (EPFO).
Today, millions of Indians work in every area of the global economy. However, in order to save costs, the corporation is concentrating on layoffs globally. Indians are likewise becoming victims of this somewhere. The EPFO has greater provisions for you in this case.
EPFO uses the social media platform Twitter to make a number of points. On December 13, or Tuesday at 9:00 am, EPFO posted information regarding the terms covered by the Social Security Agreement for International Workers (SSA) on its official Twitter account.
It has been informed in this of the advantages of the agreement and how Indians working overseas might benefit from it.
Definition of the Social Security Agreement
Let us inform you that 19 nations have signed Social Security Agreements (SSA) with EPFO. Countries like Belgium, Germany, Switzerland, and Denmark are included in this. Luxembourg, France, and South Korea.
A bilateral agreement exists between India and other countries regarding social security. Which guarantees that employees sent abroad will continue to receive social security benefits. SSA is an example of a bilateral agreement that safeguards the interests of cross-border employees.
This agreement guarantees that workers are treated similarly in terms of social security in both the host country and the home country.
This is the settlement’s terms.
IW will receive the same level of medical care as domestic employees in SSA.
International employees are sent to work in a nation that has a social security agreement with their home nation. They are not compelled to pay into the host nation’s social security system.
For both the beneficiary choosing to remain in the home country of the international employee as well as the beneficiary choosing to remain in a third country, there will be a provision for the direct distribution of pensionary benefits without any deductions.
To assess eligibility for a pension, the service performed in an SSA country is added to the service performed in India.
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