India, Austria sign social security agreement

By Indo Asian News Service | Tuesday, February 05, 2013 | 5:12:05 PM IST (+05:30 GMT) Comment 0 Comment

New Delhi, Feb 5 (IANS) India has signed a social security agreement with Austria to encourage movement of people and enhance business and trade engagements.

New Delhi, Feb 5 (IANS) India has signed a social security agreement with Austria to encourage movement of people and enhance business and trade engagements.

Minister of Overseas Indian Affairs Vayalar Ravi and Austrian minister for labour, social security and consumer protection Rudolf Hundstorfer signed the agreement in Vienna Monday.

The agreement will encourage Indian workers to take employment in Austria and enhance social security cover for the people already working there, Indian government officials said here Tuesday.

Currently there are nearly 17,000 Indians in Austria, most of them professionals and self-employed.

"This bilateral social security agreement will enhance trade and investment between the two countries," said an official statement.

The agreement will benefit Indian professionals as well as self-employed persons in Austria.

As per the terms of the agreement, the workers on short-term contracts of up to five years won't be required to pay for social security in Austria if they continue to pay in India.

If any Indian worker is paying for social security programmes in Austria, the benefits can be transferred on his/her relocation to home country.

India has signed similar agreements with several other countries, including Belgium, Germany, France, Switzerland, the Netherlands, Finland, South Korea, Sweden, Japan and Norway.

Do you like this article?

Copyright  Indo-Asian News Service

User Rating  Rating(0 Votes)

Views  133

Readers Feedback & Discussion

Join India Forums for free to comment on this story. Have an account already? Login to comment.

News Diaspora Articles Index

  

Articles in National, Business, Diaspora

Art - Culture Business Diaspora
Education Health Politics
Religion Sports Sci-Tech
Travel

AROUND THE WORLD NOW

Asia America Australia
Africa Europe Gulf-Middle East
Pakistan Nepal Bhutan
Sri Lanka Bangladesh Maldives

Disclaimer: All Logos and Pictures of various Channels, Shows, Artistes, Media Houses, Companies, Brands etc. belong to their respective owners, and are used to merely visually identify the Channels, Shows, Companies, Brands, etc. to the viewer. Incase of any issue please contact the webmaster.