Relief for those working abroad
The government has taken a big step to promote social security coverage. Social Security Agreement has been done with 22 countries. It consists of 22 countries including Britain, Netherlands. Britain has recently approved. The government has also included the provision of social security in the free trade agreement with the US.
Under the Social Security Agreement, the provident fund of those working abroad will be deducted in the country. Provident fund of those working in Indian company abroad is 3 years for cutting in the country.
Union Minister Mansukh Mandavia said that they are talking for the social security agreement with the countries of the world. In the Free Ted Agreement, we have requested the Commerce Ministry to include this in FTA, so that our people can also get social security benefits.
What happens in social security?
Social security is a system that provides different types of social and economic security to individuals. Especially in the stages of life where they face risks. Such as unemployment, disease, disability or old age. It acts as a safety net, which helps reduce financial difficulty by providing minimum income or other necessary security to eligible members of the society.