India and Japan have signed a Social Security Agreement
Posted on: 23 Jul 2016 12:24:26
23 July 2016 Current Affairs: India and Japan have signed a Social Security Agreement (SSA) that will come into force on 1st October 2016.The Social Security Agreement (SSA) will benefit Indian and Japanese professionals and skilled workers working in each other’s country and will also boost bilateral business linkages.The SSA will help avoid double social security contributions. The exemption will be provided to Indian worker, only if he is covered under the social security system of India and continues to pay his contribution during period of overseas contract. It will favorably impact the competitive position and profitability of Indian and Japanese companies with foreign operations in either country by reducing their cost of doing business abroad. Till now, India has signed similar comprehensive social security agreements with 15 countries.
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