India, Japan Ink Social Security Agreement [ Current Affairs ]

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India and Japan have signed a Social Security Agreement (SSA). It will come into force on 1 October 2016. This agreement will helpful for professionals and skilled workers working in both country. It will also increase bilateral business linkages.

  • Social Security Agreement between India and Japan was signed in Tokyo.
  • The Ministry of External Affairs (Investment, Technology Promotion and Energy Security Division), the competent authority for negotiating and concluding SSAs along with the Employee’s Provident Fund Organization (EPFO) has completed the formalities for the Agreement to enter into force.
Image of Japan's President and India's Prime Minister

Image of Japan’s President and India’s Prime Minister

showing image of Japan’s President and India’s Prime Minister

Key Details:

  • SSA will help to avoid double social security contribution.
  • In Japan Indian worker on a short-term contract will be exempted from making a social security contribution there vice versa.
  • Which workers are covered under the social security system of India and continue to pay his contribution during period of external contract exemption will be provided to this Indian worker.

Advantage:

Social Security Agreement Advantage

Social Security Agreement Advantage

Social Security Agreement Advantage

  • India has signed similar comprehensive social security agreements with 15 countries.
  • They are:

India signed social security agreements with this Country

India signed social security agreements with this Country

India signed social security agreements with this Country

Belgium

Finland

Luxembourg

Switzerland

South Korea

Canada

Denmark

Hungary

Netherlands

Austria

Czech Republic

France

Norway

Netherlands

Australia

  • Thousands of Indian and Japanese workers are working in Japan and India respectively will advantage from the agreement.
  • SSA will help Japanese companies to consider India as a destination for their manufacturing investments.

- Published on: July 22, 2016