Good news! The pension-gratuity of Indians who went to work abroad will now be frozen in PF
If you work in an Indian company and send you to work abroad for three years or less on behalf of the company, then there is good news for you. From now on your social security money will be deposited in your PF account in India. Companies will no longer have to pay this money of social security abroad. According to the news of Livehindustan, this will be possible because the Government of India is doing a special agreement with other countries. The government has so far done this agreement with 22 countries and Indian employees working in these countries have started getting benefit from it.
India is preparing to agree with countries
According to the news, such an agreement has also been agreed between India and Britain. Actually, this issue is part of the free trade deal between India and Britain. The same issue has been raised in the trade agreement to be held with the US. In addition, the Government of India is preparing for an agreement with every countries where Indian employees have gone to work or are going to go. According to the news, Labor Minister Mansukh Mandavia said that whenever India makes a business deal with a country, social security is also being included in it.
What was the arrangement before
According to the news, a fixed amount has been deducted in the name of pension-grace every month from the salary of those Indian employees in the countries with whom India did not have any agreement before today. Employees did not get any special benefit from these money. Not only this, when the employees returned to India, they did not get the money deducted from their salary. But now this will not happen. Now money will be deposited in India and will get full benefit.
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